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Wednesday, August 24, 2005 9:07:24 AM
Treowth was kind enough to remind me that Tate's exercise spree continues and that was enough to stoke the fires of animosity and outrage at the unfairness of the self-dealing occurring at the top spot over at our favorite IP company. Before I lambaste Geoff, it should be noted that the BOD is responsible for this travesty and ultimately it is the complacent shareholders who are now reaping (or not reaping in this case) what they have sown.
That said, I don't know how Tate can sleep at night (I assume he sleeps quite well) knowing that he has been awarded exorbitant sums for a job not well done. The latest Tate Tally shows that over the past 5 years, Geoffrey Tate and Geoffrey Ross Tate (I'm assuming they're one and the same) have exercised 2,234,700 options for total gross proceeds of $53,362,635. Now of course, I don't know what the grant prices were on these, but my guess is that most of this is pure profit. The only one other than Tate smiling about this would be the other board members he paid off (conjecture by me) and Uncle Sam of course who's collected a large fortune in taxes (unless of course Geoff is guilty of tax evasion).
So, Mr. Tate has raked in over $10,000,000 a year for the last 5 years in options alone. He also gets paid a VERY generous salary and probably gets a bonus for his superb performance. We now know Mr. Tate has done well for himself over the last 5 years - how about the sucker shareholders during that time. A quick look at a 5 year chart for Rambus shows that the stock has gone from a split adjusted 80 a share to barely double digits today. The shares have lost 86% of their value during this period. Where is the justice - why is this fair? To rub salt into the wound, this boob still has over 5.3 million options available to be exercised.
I'm still waiting for some crumbs here and I will probably continue to b*tch and moan in the meantime.
Recent RMBS News
- Rambus推出DDR5客户端时钟驱动器,将业界领先的内存接口芯片产品扩展到高性能 PC领域 • Business Wire • 08/29/2024 01:00:00 AM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 07/31/2024 08:45:36 PM
- Rambus Reports Second Quarter 2024 Financial Results • Business Wire • 07/29/2024 08:05:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/29/2024 08:04:53 PM
- Rambus Expands Industry-Leading Memory Interface Chip Offering to High-Performance PCs with DDR5 Client Clock Driver • Business Wire • 07/29/2024 08:02:00 PM
- U.S. Index Futures Climb Pre-Market as Tech Earnings, Fed Meeting Loom • IH Market News • 07/29/2024 10:25:38 AM
- Rambus to Announce Second Quarter Fiscal Year 2024 Results • Business Wire • 07/08/2024 08:05:00 PM
- Rambus to Present at Upcoming Investor Conferences • Business Wire • 05/14/2024 10:27:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/08/2024 08:22:28 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/08/2024 08:14:17 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/07/2024 08:52:09 PM
- Rambus Reports First Quarter 2024 Financial Results • Business Wire • 04/29/2024 08:05:00 PM
- Rambus Expands Chipset for Advanced Data Center Memory Modules with DDR5 Server PMICs • Business Wire • 04/29/2024 08:02:00 PM
- U.S. Futures Rise in Pre-Market Trading Amid Key Federal Reserve Meeting and Earnings Week Ahead • IH Market News • 04/29/2024 11:12:54 AM
- Rambus to Announce First Quarter Fiscal Year 2024 Results • Business Wire • 04/08/2024 08:05:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/11/2024 08:05:25 PM
- Form ARS - Annual Report to Security Holders • Edgar (US Regulatory) • 03/08/2024 09:10:53 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 03/08/2024 09:05:56 PM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 03/08/2024 09:02:08 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/08/2024 06:36:31 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/07/2024 09:06:12 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/06/2024 06:26:59 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/05/2024 09:34:40 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 05:48:21 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/04/2024 11:21:07 PM
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