Monday, April 19, 2004 4:06:35 PM
Teecee re compensation you can verify the following information for yourself, if you don't trust me:
Mr. Campagna’s compensation for service as Chairman of the Board from the 1997 through 2003 proxies as follows:
• “In connection with his service as Chairman of the Board, Mr. Campagna was awarded a non-qualified stock option in 1996 to purchase 100,000 shares of Common Stock at an exercise price equal to the fair market value on the date of grant.
• In connection with his service as Chairman of the Board, Mr. Campagna was also awarded a non-qualified stock option in 1997 to purchase 360,000 shares of Common Stock at an exercise price of $5.44, being equal to the fair market value on the date of grant.
• In connection with his service as Chairman of the Board, Mr. Campagna was also awarded a non-qualified stock option in 1998 to purchase 100,000 shares of Common Stock at an exercise price of $4.31 being equal to the fair market value on the date of grant.
• In conjunction with his service as Chairman of the Board, Mr. Campagna was also awarded 40,000 shares of restricted stock in 1999, under the Company’s 1999 Restricted Stock Plan.
• In connection with his service and extra commitment of time as Chairman of the Board during 2000, Mr. Campagna was awarded 40,000 restricted stock units under the Company's 1999 Restricted Stock Plan (RSUs) in 2000 and 100,000 RSUs in 2001…During 2000 each of the Outside Directors was awarded RSUs in exchange for the relinquishment of a tax gross-up feature associated with previously granted restricted stock. The number of such RSUs were as follows: Mr. Campagna, 40,000;
• In connection with his service as Chairman of the Board of Directors during 2001, Mr. Campagna was awarded, in 2002, 75,000 restricted stock units("RSUs") and 25,000 options to purchase Common Stock under the 2000 Option Plan.”
• In connection with his service as Chairman of the Board of Directors during 2002, in 2003, Mr. Campagna was awarded 50,000 restricted stock units (“RSUs”).”
Therefore, Mr. Campagna has received 585,000 stock options, 305,000 RSUs, and 40,000 restricted shares for his services as Chairman of the Board. I estimate that he has also received another 233,725 options and warrants for other services as an outside director. This estimate is based on the 2001 proxy total of 770,725 exercisable options/warrants beneficially owned by Mr.Campagna + 48,000 option grant upon reelection as an outside director in 2002 less the 585,000 options received as services as board chairman = 233,725 additional. The 2001 proxy total appears to be the height of his stock options ownership.
Mr. Campagna’s compensation for service as Chairman of the Board from the 1997 through 2003 proxies as follows:
• “In connection with his service as Chairman of the Board, Mr. Campagna was awarded a non-qualified stock option in 1996 to purchase 100,000 shares of Common Stock at an exercise price equal to the fair market value on the date of grant.
• In connection with his service as Chairman of the Board, Mr. Campagna was also awarded a non-qualified stock option in 1997 to purchase 360,000 shares of Common Stock at an exercise price of $5.44, being equal to the fair market value on the date of grant.
• In connection with his service as Chairman of the Board, Mr. Campagna was also awarded a non-qualified stock option in 1998 to purchase 100,000 shares of Common Stock at an exercise price of $4.31 being equal to the fair market value on the date of grant.
• In conjunction with his service as Chairman of the Board, Mr. Campagna was also awarded 40,000 shares of restricted stock in 1999, under the Company’s 1999 Restricted Stock Plan.
• In connection with his service and extra commitment of time as Chairman of the Board during 2000, Mr. Campagna was awarded 40,000 restricted stock units under the Company's 1999 Restricted Stock Plan (RSUs) in 2000 and 100,000 RSUs in 2001…During 2000 each of the Outside Directors was awarded RSUs in exchange for the relinquishment of a tax gross-up feature associated with previously granted restricted stock. The number of such RSUs were as follows: Mr. Campagna, 40,000;
• In connection with his service as Chairman of the Board of Directors during 2001, Mr. Campagna was awarded, in 2002, 75,000 restricted stock units("RSUs") and 25,000 options to purchase Common Stock under the 2000 Option Plan.”
• In connection with his service as Chairman of the Board of Directors during 2002, in 2003, Mr. Campagna was awarded 50,000 restricted stock units (“RSUs”).”
Therefore, Mr. Campagna has received 585,000 stock options, 305,000 RSUs, and 40,000 restricted shares for his services as Chairman of the Board. I estimate that he has also received another 233,725 options and warrants for other services as an outside director. This estimate is based on the 2001 proxy total of 770,725 exercisable options/warrants beneficially owned by Mr.Campagna + 48,000 option grant upon reelection as an outside director in 2002 less the 585,000 options received as services as board chairman = 233,725 additional. The 2001 proxy total appears to be the height of his stock options ownership.
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