Those 30% RSU components (other 70% paid in cash) of IDCC Officers' regular bonuses are in addition to and have nothing to do with the LTIP. They are typically paid in February (2/28/05 and 2/13/04) based on performance for the prior year.
As I see it, the real shareholder significance of the executive compensation controversy at IDCC is twofold:
(1) IDCC now has two separate and substantial executive bonus plans that are tied to goals that DO NOT correlate well, if at all, with stock performance. Management is NOT aligned with shareholder interests through these two bonus plans whose goals are purposefully limited to predictable cash balances and other easily achievable benchmarks.
(2) The imposition of costs associated with the LTIP have singlehandedly taken IDCC from potentially exceeding market expectations to "misses" in the last 3 quarters. IMO, IDCC's credibility with the Street and the analyst community is strained nearly to a breaking point largely as a result of the LTIP. Nokia is a convenient scapegoat, but much of IDCC's current depressed stagnation is traceable to IDCC's failure to control costs, especially those of the LTIP.
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