“senior creditor”
Does it mean that whilst Dicko’s voluntary deferral will extend the cash runway, it unfortunately also shortens the trigger for VA/liquidation?
And Dicko gets all the compensation, and more, upon change of control.
Dicko’s on 8.2 times the average compensation for a company of this size.
The board should cut his compensation, not defer it.
Ann: Operational Update, page-105
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