RE:RE:Lavish rewards of past 11 months... Many grants in the $.30sHere is 2021 Director compensation and below it value Dec 31 2021 of DSUs held - worth more today obviously. Helms Burton Allowance discontinued April 1 2022. Agree incentivising them to work towards higher SP makes sense. To me for a penny stock, they are getting over-compensated.... Keep in mind two of them joinned mid-year. Applaud them for making reductions this year.
Cash Equity
Director $90,000 $90,000
Additional retainers
Board Chair $130,000
Audit Committee Chair $20,000
All Other Committee Chairs $15,000
Helms-Burton allowance2 $150,000
1. The Board Chair does not receive Committee Chair fees.
2. The Corporation has eliminated this allowance, effective April 30, 2022.
The table below shows the total aggregate compensation paid to all directors for 2021 was $1,781,660.
Timothy Baker $34,962 $5,827 $40,788 $34,962 – – – $75,750
Maryse Blanger $90,000 $15,000 $105,000 $90,000 – – $150,000 $345,000
Peter Hancock $12,955 – $12,955 $12,955 – – – $25,910
Sir Richard Lapthorne $90,000 $130,000 $220,000 $90,000 – – $150,000 $460,000
Adrian Loader $90,000 $15,000 $105,000 $90,000 – – $150,000 $345,000
Lisa Pankratz $90,000 $20,000 $110,000 $90,000 – – $150,000 $350,000
John Warwick $90,000 – $90,000 $90,000 – – –
$180,000 Market or payout value of vested DSUs
not paid out or distributed Dec 31 2021
Timothy Baker –
Maryse Blanger $456,509
Peter Hancock –
Sir Richard Lapthorne $306,798
Adrian Loader $300,205
Lisa Pankratz $297,693
John Warwick $475,135
FrozenInOntario wrote: Do not really understand the lavish comment when you link it to the share price.
The directors received 90 000/year. This is divided every quarter and the DSU are issue at the stock price Sherritt is then trading. This is a fair way to distribute the DSU.
Now, you may disagree with the amount of directors fees ( 90 000 cash and 90 000 in DSU + some cash amount if they chair a committee etc...). Heck, some receive 150 000 per year because they can not visit the USA.
Now, awarding DSU instead of cash is a correct practice to align with shareholders. They can not cash them before they retire or leave the company. This is pay defferal. Would prefer to see them buy with their own cash however but c'est la vie. I would prefer that the DSU (and the other XSUs..) would only be paid for the differential in stock price when issued and cash. So if the stock price would go down, then no benefit. But again, this is not the nature of the beast.
What was lavish was the level of SUs given to prior management. These 40 millions O/S is/was lavish. The sooner they are out of the way, the better.
GLTA