I completely disagree with the notion that a 'no' vote is a vote against the management team. Whether you trust them/think they are doing a good job & whether you think the incentive plan make sense are two completely separate issues.
I completely trust the management team to deliver us great value, get the job done & I actually want them to have the ability to earn shares for their work even if it dilutes my holding. My no vote & I believe many others are in the exact same boat, comes from there not being enough ambition in what it takes for management to achieve the incentives. If they came out with an incentive plan to earn the same amount of shares or even more shares, but the incentives were earned through milestones that were at least a bit more measurable, timely & ambitious than i would have absolutely zero problem with voting yes.
BNL Price at posting:
5.8¢ Sentiment: Buy Disclosure: Held
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