RE:RE:RE:RE:RE:RE:RE:A STOCK DOUBLE COMING SOON.?OMG, if it takes 40,50 pages to explain the comp plan, that's a hint it's ridiculous. 2 glaring problems beyond the absurdly, unnecessarily, complex plan intentionally designed to bewilder anyone trying to sanely review and pass judgement. I don't see a cap set as a group, or individually. There needs to be a cap. Using a bonus pool concept allows some consideration of what shareholders can afford to pay or will reasonably approve. Something like 10% of pretax profit, company wide to be apportioned as a meritocracy, not as a plunderous, gluttonous, orgy of unlimited heights or lengths. There needs to be high water resets so any exercised cashed out bonuses set a new, much higher, performance hurdle. Ie further reward will use the high water mark as the subsequent starting point. Second, I see a HUGE disconnect between equity ownership goals designed to align interests and gifting said equity. There is no aligned interest, or not what I want to see if that equity is easily gifted. I don't see "skin in the game" at all. Just a very large overly intoxicating punch bowl of freebies. I don't accept the premise that helms burton restrictions are such a hardship that mgmt and directors need to be paid double comparable pay scales elsewhere. The comp is very generous at HALF what I saw in the info circ.
Buyreallow wrote: Go on SEDAR and search by company name Sherritt all docs for Apr 7. Select Management Information circular. It has all the details. Essentially works like this. RSU's or PSU.'s are notional shares (not real) issued to employees at a stated value. No stock options are issued at this time. Any previous d incentive awards prior to Dec 31 were converted to RSU's or PSU's at a value of your 41 cents. Some have been issued since at higher prices. They vest at the end of the 3 years. They are performance based and are awarded on a percentage basis based on achievements towards the goals set at time of award, and are paid our in cash (less withholding tax) by subtracting 41 cents or the issue price, whichever is higher, from the average trading price for the 5 trading days prior to vesting. Payments can be anywhere from 0% to 100% of the award, and if the share price is below 41cents or the issue price then obviously the payout would be 0. I did not make the effort to count the total units outstanding, but would guess they are likely 20 million or more, so you can see a material expense to the corporation no matter how they report it if the share price rises significantly.