I'm not a fan of #11 either. They already have plenty of 'performance shares' which should be enough to incentivize them. Why more? There's also no detail as to which employees will get the 'incentive securities' (who is an eligible participant) or what their value is. So a maximum of 43,800,000 shares to incentivize who? The board? The Project Manager? Other employees?
They do say this though: "The Board will determine in its sole an absolute discretion the acquisition price (if any) for each Plan Share which may be nil."
Anybody think it won't be nil?
Performance shares (if the conditions are met)
Stuart Lake 7,000,000
Joe Mutizwa 7,000,000
Scott Macmillan 10,000,000
G.abriel Chiappini 7,000,000
I don't begrudge Scott from cashing in on a major success, but incentivizing employees to do their job is not something I will support.
