22nd Century Group Inc (XXII)

[strut1702]

He may very well have just about his entire wealth tied in with XXII stock. But he was provided a severance (cash plus stock) upon his termination as CEO.

Quote:

"22nd Century, a Clarence-based company that makes cigarettes using tobacco that can be altered to have very high - or very low - levels of nicotine, said Pandolfino will receive $675,000 in salary over the next three years, split into monthly payments of $18,750, according to a filing with the Securities and Exchange Commission."


Could he just wait to cover his taxes, assuming it is? 18,750 is 225,000 per year. The salary is more than 95% of the U.S. population. Get an advance to cover the taxes or something. The timing is terrible...We don't know if he's done selling either.


My outlook hasn't changed but my opinion of Joe has gotten worse.