RE:RE:RE:RE:March 2021 Warrant ExerciseThey are simply sugar coating a large one time bonus by averaging it over 6 years. If it was CV's behest that he would not get paid a bonus till the company was profitable then do you justify a large one time payment by indicating he has not received a bonus in previous years? A bonus based on milled tonnage and sales tonnage and margins rather than simply profitability is more appropriate.
Bonus needs to be predetermined and not arbitrary. A bonus plan needs to be set against performance metrics that are actionable by the incentivized employee.
The above bonus was a shock to me and further concerns of corporate governance makes this company a risk more so due to management rather than the fundamentals of the company in the fertilizer industry. It appears to be reflected in the declining share price.
CV has bodly stated that if you're not prepared to loose your total investment or are not here for the long term that this company is not for you. Investors are taking this to heart.
DiggeDiego wrote: From management information circular dated May 20, 2021 (Sedar May 28:th) page 23
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(3) Mr. Veloso used all proceeds from his annual incentive plan payment to exercise his share options and his share warrants in the Company. This is the first time that Verde has paid a bonus to Mr. Veloso in six years, despite Mr. Veloso having repeatedly met and surpassed the performance targets outlined by the Board. This is tantamount to an annual bonus of $84,628 over this six-year period if the Company had paid any bonues to Mr Veloso. It was, however, at Mr Veloso’s behest that the Board of Directors paid no bonuses until the Company became profitable.