Avid Bioservices Inc (CDMO)

[jessme]

Does voting for a new incentive package allow the compensation committee to reprice options? By repricing these options at a lower price isn't management awarding themselves for failing to create shareholder value? We have to wait and hope things go like we want and management gets to reprice their shares to a more favorable price. Tustin wants us to vote in favor of awarding failure via PPS price and some of you are applauding this measure?


The Plan Administrator shall have the authority to effect, at any time and from time to time, with the consent of the affected option holders, the cancellation of any or all outstanding options under the Discretionary Option Grant Program and to grant in substitution new options covering the same or a different number of shares of Common Stock but with an exercise price per share based on the Fair Market Value per share of Common Stock on the new grant date.



with the consent of the affected option holders
As though the options holders would vote not to lower their option price. Anyone think the administrator would ask holders if he could RAISE the option prices?
with the consent of the affected option holders