Cytodyn Inc (CYDY)

[Chuckles759]

Panic? What panic?

Panic buying possibly to get in low right now....

Bottom line: NP and MM did not single-handedly create and file this document - CytoDyn's elected Board of Directors voted to approve this change in their employment contract.

Is anyone trying to say that the entire board of directors are in cahoots to only enrich NP and MM? Sounds like some sort of far-fetched conspiracy theory here.

Plenty of shareholder panic and justifiably so, 8K says it all-

Effective June 15, 2020, the Company and Nader Z. Pourhassan, Ph.D., President and Chief Executive Officer, entered into a second amended and restated employment agreement. The primary changes to the agreement include a modification to the severance payable to Dr. Pourhassan in the event his employment is terminated by the Company without cause, by increasing severance payable to 18 months from 12 months upon termination without cause and deleting the limitation from his prior agreement that the severance would not be payable if the Company had less than $4 million in cash on hand or net worth of less than $5 million. The amended agreement also clarifies that vesting on option grants will only accelerate upon termination of employment if permitted by the underlying stock option award agreement.

Effective June 15, 2020, the Company and Michael D. Mulholland, Chief Financial Officer, entered into an amended and restated employment agreement. With the exception of the severance-pay period which remains 12 months, the changes to Mr. Mulholland’s agreement mirror those of Dr. Pourhassan described above.

https://www.sec.gov/Archives/edgar/data/1175680/000119312520174232/d696347d8k.htm

Again, the current board of directors had voted and agreed by their corporate charter rules to approve NP and MM's employment agreement and then it was their responsibility to file with the SEC.

NO SECRETS OR TRYING TO HIDE ANYTHING HERE. It's a public document under significant scrutiny.

If there were a takeover/buyout by another company which wanted to place their own officer(s) in place as CEO (or other official capacity to which NP holds), NP would be justly compensated. All this is completely in the open and approved by the elected CytoDyn board. Who by the way, are legally bound to act in a manner to protect the company's legal position and a fiduciary responsibility to stock holders.

Yup, a classic "golden parachute" if I ever saw one.