Wednesday, April 29, 2020 10:26:35 PM
Yes his compensation package by contract was performance based and has caused many to raise their concern on the last few 10Q's and the K. The package allowed for a max cap of 20% stock ownership value of the company.
Rather than showing it in each future Q which will drag down the profit line, and perhaps the pps, they decided to advance the entire remaining amount tomorrow and account for it as a line item in Q2.
Then going forward in the Q3 filing it would not have that charge or drag on bottom line. It will however show up in Q2 numbers. I don't know how they will be issued? Warrants, restricted? Also not sure what accounting wizardry will be used. It's all good however.
That's my take on this very simple matter. I don't think shareholder value was the driving reason for this.
Still, he deserves every penny, it's his company after all.
ST
Family Blessings and stay safe
VRUS LONG since 6-18
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