Cheers.
If they do not have this condition changed, the ~30 million options will be lost. This is a very significant amount. Voting against this would be quite a hit against the directors and chairman. I dont have any doubt that PD is one of the best and they delivered on many front. It is a very small team.
My concerns are whether they would offload and what is the impact. If they offload some initially it would likely be for 'personal, tax reasons' and they would be selling prior to news around the Philips program finishing in december, plus the holdings would incur higher tax as they have not been held for 12 months.
How do directors respond if they miss vesting conditions and they lose out?
Ann: Notice of Annual General Meeting/Proxy Form, page-20
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