Post by
Kherson on Feb 04, 2018 8:07pm
Performance Restricted Share Units
Each RSU and PSU represents a right to receive, on the vesting date, one share or the payment of cash equal to the fair market value of one share, as of the vesting date. (p.18, 2017 Eagle Energy Proxy Circular)
Therefore it is important that investors realize, especially whodathunkit, that the numbers that he quoted in his last post were PSU's that were given to the Insiders at no cost to them.
If we take a closer look at Wisniewski's data from the Canadian Insider site, it shows that he converted about 62,000 of his PSU's into common shares and then sold 21,000 of those common shares into the Market. It didn't cost Eagle anything to give him the PSUs, it didn't cost Wisniewski anything to convert the PSUs to common shares and more importantly, he reaped the proceeds from selling 21,000 shares at the Market price! The losers of course were all shareholders because their ownership in Eagle by common shares was diluted yet again!
Kherson