Compensation of Gary and AlbertHas anyone read the salaries these guys put down for themselves? I haven't seen this mentioend before.
Guaranteed $1MM USD / year until 2027 PLUS bonuses... can you say mighty rich? This is the stuff that oprovides openings for short reports.
I have no idea how this is justfiied in this investing environment and when the stock is hammered. This is okay maybe if they are way outperforming and the stock is flying but not in this environment. This will deter prudent and professional investors from investing.
What I suggest to ensure strategic alignment with shareholders:
- Reduce salary to $400K USD each and remove or at least reduce golden parachute (which was ridiculous to begin with)
- No bonuses until revenues exceed X and profit margins are above Y
- Add additional options based on revenue and profitability targets in tranches and if set milestones are met with no excuses if they are not.
Below is the termination terms for Gary, same goes for Albert.
"...If, prior to January 29, 2027, the Company terminates Mr. Yeoman’s employment without cause or Mr. Yeoman terminates his employment with Good Reason or within six months of a Change of Control (both terms being defined in the 2021 Yeoman Agreement), Mr. Yeoman is entitled to be paid his annual base salary for the balance of the eight-year term of his contract (provided that if the TSXV or other applicable exchange does not permit such payment, the amount permitted by the TSXV or such other exchange), plus an amount equal to Mr. Yeoman’s average annual bonuses during the term, payable annually to the eighth anniversary of the 2021 Yeoman Agreement. If any such event occurs after January 29, 2027, Mr. Yeoman is entitled to two times his annual base salary (provided that is the TSXV or other applicable exchange does not permit such payment, the amount permitted by the TSXV or such other exchange), plus an amount equal to his most recent annual bonus."