Koil Energy Solutions Inc. (KLNG)

[JoeSmith]

Bingo jlev! Give yourself a cookie for this post.

"the bonuses were paid in the summer, before oil and the dow's big drops and our lackluster 4Q."

Very correct and a great point.
Since you wrote this post, I have read comments such as the following..

"Take your big bonuses when the PPS is rising and the company is earning money, not losing money. "

"If you don't Deliver
Don't take the Bonus"

And other various comments about the bonuses being tied to performance.
They were tied to performance, but not tied to the stock price performance for the year as some had thought.

These bonuses were paid back on June 20, 2008 and just for the
record I want to post these facts here.

From the S-1/A filed on 08/26/2008:

(4) In June, 2008, in recognition of the successful completion of the acquisition of Flotation and the private placement of common stock, Messrs, Smith, Chamberlain and Butler were each awarded a cash performance bonus of $100,000 which was paid on June 20, 2008. These bonuses are not reflected on the table above since they occurred after December 31, 2007.

Hindsight is always 20/20, they did deliver on Flotation,
then ...
circumstances and the market took the helm.
I hope they saved the money to buy some shares on the open mkt.
:)