- Once LTIP is ratified by shareholders, the LTIP in generally can be amended by the board of directors, in its discretion.
- This LTIP is only ratified once by shareholders but can continue for years on and shareholders will have no say on the performance hurdles to be met
My advice to the BOD
Grow the pie and share in profits and not be greedy to take a larger slice of shrinking pie.
The BOD and senior employees own and control approx 76 million shares and options - so any one cent increase in shareprice will translate to $760,000 gain and a ten cent gain will translate to $7.6 million gain - but hey that is much harder to achieve !!!
SSN Price at posting:
1.5¢ Sentiment: None Disclosure: Held
