RE:Dr Matt medical leavewhile i can understand kirk look in the poa announcement (he has an msj law degree and is still with the company) brad doesn't have a law degree and his education is in science. furthermore, brad was released from the company in late 2016 and his severance agreement stated: "All share awards granted to Employee under Employer’s Incentive Share Award Plan and the resolution of the Board of Directors of Employer dated September 9, 2016, shall have immediately terminated effective as of November 2, 2016."
that said, he appears to still own between 1.8 million and 3 million shares.
the following sedi information indicates 2.4+ million shares in dec 2015. in sept of 2016 he got restricted rights to another 660k shares. if none of those were able to be exercised, then it appears they may have been the ones "immediately terminated" as stated above. so i find it hard to make sense of his actual ownership although i believe he has previously stated he has not sold any shares.
all curious at best.
Filed 2015-12-02
Tx date 2015-12-01 $ONC
Oncolytics Biotech Inc. Thompson, Bradley
4 - Director of Issuer, 5 - Senior Officer of Issuer
Direct Ownership
Options
50 - Grant of options $510,720
+1,216,000 vol
$0.42 each 2,488,160
so, brad being named as the "attorney-in-fact" for the officers and directors listed on the S8 seems odd.
i have emailed Jon Patton, the IR guy, the general counsel firm for oncy, as well as matt. didn't email matt until last friday and with the announcement today don't really expect an answer from him although he has heretofore answered any email i have sent him.
unless matt had a stroke or heart attack over the weekend, would agree this was a known condition and temporary succession was in order already. can't imagine that pisano came into the office early this morning and found a note on his desk that he would be assuming ceo duties.
maybe IR or general counsel will respond. maybe the reason for naming someone who hasn't been with the company for 7 1/2 years and doesn't have any legal background to be named "attorney-in-fact" might be to keep any information about the stock options corralled since brad still seems to have a large position.
whatever, it does seem strange and i can not believe it was a cut/paste error which was the cause for brad's name to be on the S8 POA information.
volume and price on the nasdaq suggest this information is a yawner.
will be interested in any further info regarding these matters.