Agreed. That "open" non recourse (near enough anyway) loan is poorly structured and again does comparatively little to incentivise the beneficiary whilst they have operational self set STI's they know are almost certainly a given to vest which has been & is the case with BRK. If you want to truly incentivise an executive with loans, make them recourse to the beneficiary so their neck is on the hook alongside invested shareholder capital and provide a term date to them to force the the recipient to achieve an outcome by a due date. As the loan stands we effectively have a freebie to infinity with little incentive to deliver now, in 5 years or 10 whilst Prentice collects more than half his remuneration package in incentives that invest every year whilst the share price has gone backwards to near 5 year lows. How's that equitable?
Vote "No"
BRK Price at posting:
38.0¢ Sentiment: None Disclosure: Held
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