Azure and BKT
I agree with the points you both make. This is why I suggested in Post 40278 that there is a simple way to assure a win-win where key technical employees are motivated to stay with the Company but Senior Mgmt, i.e. the Board plus the Senior Executives, cannot benefit from granting themselves more options at a low price following a R/S.
The idea is to ADD A PROVISION TO THE INCENTIVE PLAN, OR ALTERNATIVELY ADOPT A BOARD RESOLUTION, THAT DECLARES THAT IT IS THE POLICY OF THE COMPANY THAT NO MEMBER Of SENIOR MGMT. SHALL BE AWARDED ANY OPTION FROM THE NEW PLAN UNLESS AND UNTIL THE PPS IS OVER $3.00 [OR $5.00 ?] PER SHARE.
The next CC will occur on or near Sept 14. What we need to do as retail shareholders is to agree among ourselves on this i-hub board to all write and email Mgmt stating that we will vote "NO" on the Incentive Plan unless SK confirms in that CC that Senior Mgmt will not be awarded any options in the new Plan until the price is over $3.00 [or $5.00].
All that SK has to do to assure that his Incentive Plan gets passed is to tell us in the CC that such a resolution has been adopted and therefore we can all vote "YES" on the new Plan because we know the new Plan can only be used to motivate Thorpe and lower level employees and will not be used to line the pockets of Senior Mgmt and allow them to escape the economic consequences of their failure to get pps over $1.00.
Additionally, such a Board Resolution announced publicly in the Sept. CC would have a beneficial impact on the pps all by itself because it would send a signal to the markets that Senior Mgmt. is confident the PPS will soon go over $3.00 [or $5.00] per share.
I don't believe we have to start writing these letters today. Let's give them another two weeks to pull a rabbit out of the hat. But if there has been no major pps move by Sept 4, I propose that we should all be ready to send the message to Senior Mgmt. that we will only vote "Yes" on the Incentive Plan if they confirm publicly in the CC that the new Plan won't be used by Senior Mgmt to protect themselves from the R/S consequences all of us will suffer.
All we are asking is that Senior Mgmt should put themselves in the same "economic boat" as us. If they decide to do a R/S instead of big BP licensing deal to preserve the NASDAQ listing, well that's just fine-- it's their right to make that judgment call. But if they go that route they should be in the same economic boat, and suffer the same economic consequences, as us.
