Wave Systems Corp. (fka WAVXQ)

[vickers2]

I've been a "no" on this since my first read of the proxy. For those who say management has deserved everything they've gotten and deserve whatever they ask for going forward I'd like to suggest a novel approach. Let them (officers & directors) buy in the open market. The CEO of Chesapeake Energy has purchased almost $20 million worth of CHK so far this year. Those are actions that scream "I'm in this with you" to shareholders. All I hear when I read this proxy is "give me more!" I realize this is taking the argument for "no" further than it may need to go but I just feel compelled to point out that management has historically been fairly compensated while at the same time the shareholders have received a miserable return on their investment (and this is an investment!)

If our little Wave is to be as hugely profitable (and I fervently hope it will be) as many think then management's "vision" will be rewarded; especially if they buy some stock. By the way, that's the answer to those who feel a huge run is coming shortly and management just wants to be in a nice position to enjoy the run---yup, let them buy stock! But no more options, no more sweeteners, no more perks until shareholders begin to see some fruits from this tree.