That is correct. But even bonuses aren't counted as a liability.
I guess my point was that "fictitious" shares get counted as a liability, when real ones do not.
One way or the other, these shares cost the company money at the expense of the estate whether they panned out as the incentive they were created for preBK, or listed as a liability now in BK.
Amazing how fake shares carry more weight than real ones.....smh
Soooooo....this poses another question. Would this also be considered a "double incentivization"? They are asking for $10.7Mil during BK, and the Phantoms are still worth money after BK when they are vested? If counted as a liability now, and they get their bonuses approved in BK, they get paid twice at the expense of the estate.
