Admittedly, I completely misread the situation. I thought his deal-making background coupled with his silence and lack of communication with shareholders was part of a quiet confidence in which he knew he was finalizing a large deal or sale of the company that would ultimately deliver value. I couldn't have been more wrong. In hindsight, at 70 years old, he was too old to have any motivation to do anything and simply waiting to collect his retention bonus and RSUs while the BOD searched for a permanent CEO then he would retire comfortably. The $2 offering was the culmination of poor management originating from O'Connor and more recently to the BOD's pushing O'Connor out while scrambling to figure out what's next as they had no succession plan or strategy at all.
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