First of all
The “rag tag group of opportunists” includes a group of stock-flipping dirtbags who participated in at least one previous deal and made out like bandits at shareholder expense, AND, I believe, a Wavoid pumper who, until his very recent disappearance, was a frequent poster on this and other boards, consistently downplaying and dismissing the risks and putting the most positive spin possible on every WAVX announcement (or lack of one). REALLY SLEAZY.
Now, what was your question about BS’ share count? I have to admit I never paid much attention to those because they’ve been out of the money for so many years that I never considered them as significant pieces of executive comp. I looked at the latest 14A and it said BS had something like 377k shares, 183k of which were vested (exercisable) options. So maybe the balance of ~194k is unvested options?? In the 2014 14A (published April of this year) it says BS was given 2 grants, late 2013 and early 2014, totaling 500k shares. It’s hard to believe he exercised-and-sold many because the share price was back down near his grant price by the time of his initial vesting date. (But maybe he did.) Surely he was granted more in late 2014 or early 2015, but perhaps none of those have vested yet. Is that the disagreement you’re talking about—500k shares granted, but only 377k owned today? Who knows, maybe some of them could even be ESPP shares! If he had contributed 10% of his gross salary, PLUS 10% of his bonus in the first half of 2015, that could have been an ESPP purchase of ~$28,000. The ESPP purchase price for 1H 2015 would have been ~43cents. That would have been a ~60,000 share purchase. But why would he hold on to them? I’m just circle jerking here. You’ll have to fill me in on what the problematic numbers are.
AI
