Agreed though a caveat to that is because they're not large shareholders they'd not be able to get a sale through on their stake alone.
I've said before, but DRO is odd in that much of the company was sold by the original founders who have since left. I think Oleg has had a decent payday already with 2 tranches of ZEPOs - I don't recall seeing him ever buy more shares though he's only sold 1 time (2023) for something other than covering tax due to performance options vesting.
Where's the skin in the game? The conviction! $800k is a bloody good salary for a small cap.
@MiTiBennett welcome! Insider or not, have enjoyed reading your opinion. Im sure Mayi has too, he seems to really debates and you've given him more to chew than the usual loveable ASXBets lads. (No offense intended!)
I posted the below elsewhere but curious on your take.
Firstly performance options are for FUTURE performance. As for their historic performance well, this is not the first ZEPOs. The first ZEPOs vested on 16 August 2021 following $10m in cash receipts. Then the second batch of ZEPOs had a target of $50m which they blitzed, now it's at $200m. This time we're increasing the amount for Oleg and Jethro by 50% (up from 10m and 1m) and reducing Peters by 40% (down to 3m from 5m)
Given we have hit $70m+ for this year (standout performance) $200m seems a little on the light side in that these could be taken to be guaranteed to hit within the 5 year window given their $300-500m target.
Since the last vote on 26 April 2022 we've see the SP move from 26c to 34c - a roughly 30% gain. At times however, we've been down as much as ~40% (0.155 03/10/22) against ATH gain of ~60% (0.42 - 24/01/23).
As of today's share price, these ZEPOs would award ~$5m, $1m and ~$500k.This is on top of their existing pay and for Oleg for example, is something like 6x his Annual Salary for 2023. It's 10x what we pay Peter James and Jethro as directors. These are colossal bonuses at the cost of shareholder value. While we don't expect to hit $200m next year, by end 2025 I wouldn't expect us to be pretty close. If true then they're getting 3x and 5x their annual comp. Is this not quite a lot? I've spoken to an Analyst friend of mine in the small cap space and he guided me that small caps tend to do crazy stuff like this due to a lack of sophisticated investor oversight.
You said you wanted to pay them MORE. How much money exactly do you want to pay them?
Adding a TSR requirement along side the revenue targets would give comfort to holders surely!?
(20min delay)