OK
Our BoD has awarded themselves common stock 4 times (October 2012: ordinary award; August 2013: ordinary award; February 2014: special award for the KKR deal and June 2014: ordinary award)
So they grant themselves every ten months (if we exclude the special award), so next ordinary stock award would take place on April 2015 (after the 3 year deadline that some respectable posters defend as necessary to begin to monetize the NOLs; also after an hypothetical closure of BK and LT; April 2015 sounds reasonable enough for me...)
Our BoD has, if they don't increase this limit again....,
(3,000,000 - 2,343,245) = 656,755 shares left for stock awards...
If the definitive deal is closed (after that reasonable April 2015 deadline) they may pay themselves another special bonus (as the 02/2014 one...) ; let's also assume that in the same amount(s) than the ones granted on 02/2014, this is:
100,000 Shares Granted to DAVIS EUGENE I ; 50,000 Shares Granted to Renoff Michael J, Glossman Diane Beth, Willingham Michael , ...., another 150,000 shares (sub scenario A); this special bonus would be paid after the ordinary stock award of April 2015 (if we assume that ordinary stock award takes place every 10 months)...
we can also imagine that this deal would be of a larger magnitude than the 2014 one; maybe they would grant themselves more shares as an special bonus this time.... they grant themselves 2X what they granted themselves last time...this is 300,000 shares (sub scenario B)
that leaves us with
(sub scenario A)
So 656,755-150,000 = 506,755 shares left, for the next ordinary stock award which would take place on April 2015; we have 7 BoD members, so that would mean
(506,755 / 7) = 72,393 (approx) for each BOD member, and to make this possible shares should be trading at..... which "necessary" (considering the stock awards record) pps?
(sub scenario B)
So 656,755-300,000 = 356,755 shares left, for the next ordinary stock award which would take place on April 2015; we have 7 BoD members, so that would mean
(356,755 / 7) = 50,965 (approx) for each BOD member, and to make this possible shares should be trading at..... which "necessary" (considering the stock awards record) pps?
So, does it makes sense that
BK closes before April 2015, so does the LT
these two events plus the 3 years NOL deadline one give our Bod freedom of movement and they sign the deserved deal and also grant themselves another stock award after 10 months
I know there are many IFs in this; feedback, corrections,different insights, etc would be really appreciated
TIA
