Torpedo,
Do you know the difference between a share and a performance right? A share is tradeable and has a value. A performance right is worthless unless it converts into a share. At which point it becomes tradeable and has a value. Just like your shares and my shares. And the PRs only vest if the company performs well. Otherwise they just expire.
There are some investors who want the CEO and Directors to have no stake in the company. I am not one of them.
I want the key value creating individuals to have skin in the game and be loaded up to the gills with incentives that only pay out if the company does well.
J9
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