Tuesday, October 19, 2021 8:11:02 AM
"All they've done so far is describe what they CAN do."
That only relates to the 2016 Plan amendments.
The following is a done deal:
"Annual Stock Option Awards — The Compensation Committee approved stock option awards under the Plan relating to one million shares of common stock to each independent director and 500,000 shares of common stock to each of the non-independent director and the Company's Senior Vice President, Clinical Sciences and Portfolio Management."
Those are THIS YEAR'S awards. Note that the Directors are getting options and LE and JH are getting stock.
Also note that the Annual Stock Option Awards don't seem to be annual. They didn't happen in the last fiscal year and the plan doesn't call for Annual awards but it does allow for them.
From the FORM of the Company's executive employment agreement:
2.6 Annual Equity Award.
With respect to each fiscal year of the Company ending during the term of Executive’s employment and commencing with the fiscal year ending June 30, 20___, Executive shall be eligible to receive annual equity awards under the Company’s 2016 Omnibus Incentive Plan or any successor plan, with a target award of options to purchase _________ shares of the Company’s common stock with an exercise price equal to the last closing price of the Company’s common stock prior to the date of grant, which options shall vest ratably each month over the ___ months following the date of grant.
A curiosity: The 2016 Incentive Plan was approved the same day that Bertolino was hired.
JH has been receiving options annually like clockwork since her hiring in 2016 based on some calculation. Now that LE has an agreement perhaps he will as well.
These "awards" seem to be granted at the will of the "board" under a "plan" that allows for it. They're hard to keep track of. Filing of the actual employment agreements, versus the FORM of the agreements, might make it doable.
The director's compensation doesn't seem to be fixed in form or amount.
As my dear old grandfather Litvak said (just before they swung the trap), he said "You can't cheat an honest man. Never give a sucker an even break or smarten up a chump."
Recent IPIX News
- Form 8-K - Current report • Edgar (US Regulatory) • 02/01/2024 01:30:25 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/05/2023 09:25:58 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/20/2023 09:05:44 PM
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 11/15/2023 01:00:19 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 10/30/2023 08:15:25 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 09/28/2023 01:00:08 PM
North Bay Resources Commences Operations at Bishop Gold Mill, Inyo County, California; Engages Sabean Group Management Consulting • NBRI • Sep 25, 2024 9:15 AM
CEO David B. Dorwart Anticipates a Bright Future at Good Gaming Inc. Through His Most Recent Shareholder Update • GMER • Sep 25, 2024 8:30 AM
Cannabix Technologies and Omega Laboratories Inc. Advance Marijuana Breathalyzer Technology - Dr. Bruce Goldberger to Present at Society of Forensic Toxicologists Conference • BLOZF • Sep 24, 2024 8:50 AM
Integrated Ventures, Inc Announces Strategic Partnership For GLP-1 (Semaglutide) Procurement Through MedWell USA, LLC. • INTV • Sep 24, 2024 8:45 AM
Avant Technologies Accelerates Creation of AI-Powered Platform to Revolutionize Patient Care • AVAI • Sep 24, 2024 8:00 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM