No, not whatever.
I think it other way. Your post :
"whatever CASH$$$ that WMIH/COOP is receiving from the P, K & other WMI Capital Trusts"
IF I interpret it correctly, it was only agreed that the new daughter must, will, have to repay the bridge loan to the mother.
it also says with what.
it doesn't say anything about using your presumptions as "P", Cap.Trust,........, does it ? And IF they do, maybe they are allowed, or at the moment, for themselves to us or
partly, I don`t know. Maybe cura can explain some new questions on his post.
What I find interesting are the given dates.
The BOD compensation, this is from april 2019 --- I have not compared what has changed :
"And it goes on to say about the compensation philosophy.:"
"....If shareholders approve the 2019 Plan, no additional shares may be granted under either the 2012 Long-Term Incentive Plan or the 2012 Incentive Compensation Plan.
The proposed increase combined with the shares already granted will represent approximately 16% of the total shares outstanding. We estimate that this figure is approximately the 50th percentile of our peer group. In addition, the rate at which we propose to grant shares (i.e., the burn rate) is also approximately 50% of our peers.
The 2019 Plan contains several elements designed to protect stockholder interests and reflect our compensation philosophy, including the following:
LIMITS on the number of shares available for issuance, as there is no "evergreen" plan provision.
Restrictions on recycling shares back into the pool available for issuance consistent with best practices.
Prohibition on "repricing" of options and SARs without further shareholder approval.
Restrictions on the vesting of stock options prior to the first anniversary of the grant date.
Restrictions on automatic acceleration of stock option vesting upon a change in control of the company.
Reasonable LIMITS on the value of AWARDS that can be granted in ANY year to directors OUTSIDE the workforce.
Prudent definition of change of control in the event of a change of control.
Application of clawback policy.
General
The 2019 Plan is intended to be a means of attracting and retaining KEY PERSONEL, compensating our employees, directors and other service providers tied to the performance of our common stock, aligning their financial interests with those of our stockholders, and motivating them to work toward achieving our long-term corporate and strategic goals that enhance stockholder value and reward them with the value of our common stock, consistent with our stockholders."
Note : I was already at a loss for words for this at the time :-) but COOP is not the only one giving goodies to the "key personel" and by now it is not clear, why someone was given an extraordinary bonus of $2,5mio( ? ).
Note 2 : again, this should also give us food for thought :
"This year, prior to August, there's a safe harbor that we've operated under in buying back stock that to be no more than 10% of our outstanding shares". ( they repurchased in q3 & q4 2020 ....2,6mio shares = $57.3 mio .....therefore $42.7 mio left ).
In August, that would shift to 50%" (and they will do it....)
What is their intention ? What about poss. forward split ?
Note 3 : coop conspicuously often emphasizes the parallels of the figures to nationstar in the past....
Note 4 and most important : sun is shining and it is the day of the lord and family, so
have a nice sunday all over the world and stay safe....!
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