He wasn't ever "aligned" ! .....aligned is when you buy shares...

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25/01/16

08:31

Post #: 16861215
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Originally posted by pipebuilder ↑

Apparently No according to smh article. (although his investment co, did receive some cash at IPO - source IPO Prospectus)

Who knows? Maybe he was asked not to sell - anytime a CEO sells, the market reacts badly.

Article:-

As Dick Smith's second largest shareholder, Mr Abboud lost a small fortune through the company's collapse: his 15.3 million shares were worth $34 million when the company floated but had fallen to $5.4
million when Dick Smith entered administration last week.

Mr Abboud won't receive a payout and will walk away with only his final day's salary.

Peter Wuchatsch, analyst at remuneration advisory firm Ownership Matters, said Mr Abboud's base salary of about $1.25 million had been reasonable relative to his peers.

Mr Abboud received 10 per cent of his maximum performance bonus in 2015 leaving him with a total remuneration of $1.4 million, down from a $2.6 million package in 2014, which Mr Wuchatsch said "aligned well with the performance of the company".

But Mr Wuchatsch said the near $30-million wipe-out of the value of Mr Abboud's shares showed he was not part of such a strategy.

"He certainly didn't cut and run when he first made a profit ... he remained aligned with shareholders the entire time [and] he's been hurt financially a significant amount," Mr Wuchatsch said.

Read more: http://www.smh.com.au/business/retail/outgoing-dick-smith-chief-executive-nick-abboud-gets-no-payout-20160112-gm4dyf.html#ixzz3y6ZoeOwd

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He wasn't ever "aligned" ! .....aligned is when you buy shares out of after-tax earnings, like us schmucks who now have less to last us in retirement. All that happened to Nick was a big cheque at IPO, and then shares, he never paid for, becoming worthless.

DSH Price at posting: 35.5¢ Sentiment: None Disclosure: Not Held
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He wasn't ever "aligned" ! .....aligned is when you buy shares...

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