Replies to post #399126 on NorthWest Biotherapeutics Inc (NWBO)

[JerryCampbell]

Take a look at the hirings for both Kevin Duffy and Jean Davis.

Both were PR'd. Neither PR talks about compensation.

There was no 8-K filing for Duffy, which is reasonable as he was not an officer level hire.

Davis was initially hired as CFO, which did merit an 8-K filing. That is where her compensation and options were first shown. It notes that the options vest on mutually agreed milestones. The subsequent proxy notes 643,055 currently exercisable. She is no longer shown on the 2021 proxy as she is no longer CEO/Officer.

My take:

There is no public record as to whether Duffy received options, although it would certainly be appropriate for his level. Even if he was granted vestable options, he did not stay long enough for meaningful vesting.

If Duffy did wind up with any nwbo securities, any prospective employer that found that problematic could just require him to exercise/sell as a condition of employment. Not a big deal.

[anders2211]

To answer your first question Im not going to tell anyone that but Im not an inactive person I can assure you (about the NIH).

Why do you assume Duffy was not awarded options?

That is simple to answer. As you know Duffy was hired on Sept 4, 2019. From the 10Q Q22019 and the 10Q Q3 2019, there was no increase of Potentially dilutive securities. In fact, the Potentially dilutive securities decreased. If NWBO would have agreed with Duffy/promised Duffy to award him options or warrants then the increase of Potentially dilutive securities would have been substantial

For the nine months ended september 30
Potentially dilutive securities 456,726
https://www.sec.gov/Archives/edgar/data/1072379/000110465919062726/tm1919565d1_10q.htm

For the six months ended June 30
Potentially dilutive securities 470,521
https://www.sec.gov/Archives/edgar/data/1072379/000114420419038889/tv527108_10q.htm

So one can conclude that no one got any options/warrants when Duffy was hired including Duffy.

And why would you assume he could not be hired with Merck because he had options in some other biotech?

He could if NWBO was not a potential candidate to be acquired, depending on trial results, as is the whole point. The point PM made is the other way around. LP gives away options/warrants like candy and thus why not for a new senior staff member. Every other senior staff got options/warrants why not him, well because see post PM.