I sent this to Louie. FYI
Any clue how we can vote against these free options and crazy salary raise for senior directors ?
Also can you enlighten me on why such a low options price has been set for the 1 Bln target NPV?
The sentiment is that is fine to reward people (like you and Chris) that were instrumental to bring us where we will be at SS2 stage but:
- $1.20 exercise price is way to low: if we would have had a few more good hits the price would already be there and it’s half of our ATH. Basically a give away? Why not set it at 2$, which would still be a large discount to an expected SP at 1 Bln NPV?
- why not open it up to investors like me who are risking a large amount of money (I hold xxx shares) for a long time for a risky investment?
- it pains me to see that people that just joined (senior directors, chair) and did comparatively little to get NVA where we are now, get given a large amount of options. And at the same time get a huge raise in salary, in a sector that has not performed well at all and I’ma company that is lagging behind its peers.
I always felt that NVA was frugal and it was one of the reasons I kept being invested. Now it feels like it is good the other way. Is this the new chair’s influence? Make nva more traditionally corporate where huge bonuses are given to people just for joining? Why not give them a specific target to reach? Like bringing in a cornerstone investor or similar corporate/financial objective?
MAYBE LAST QUESTION WILL BE ANSWERED ON MONDAY. BUT WHAT HAVE THESE SENIOR DIRECTORS DONE IN A FEW MONTHS TO WARRANT THESE FREE OPTIONS.
I SAY WE VOTE AGAINST.
