I believe the reason Steipp requested the $1M pay increase is because LQMT is close (and the board is aware of this) to closing a deal on a big project. A whale.
The asking of a $1M pay raise without results is as ludicrous as it sounds. An obvious "NO!"
The asking for a $1M pay raise while in process of negotiating a huge deal.... a deal they are very close to landing, one that has taken a lot of work and effort, one that has a much larger payoff than $1M for LQMT. There you might get a YES, as a reward for luring the whale with a minnow. And to inspire getting the whale to beach himself.
I think then the pay raise begins to make a lot of sense.
However, don't ever think that GREED is not involved. LQMT is a very GREEDY company through and through.
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