Replies to post #241456 on Biotech Values

[LongRun8]

Was it the boilerplate language they left in when they should have omitted some of the language about "departure of directors or certain officers" when there was no mention of any departure?

ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.

[jbog]

The only thing that stands out is the 135% weight figure. I guess that gives these clowns a little head start.

It would be nice to see these morons penalized after a year like last year


Maybe Foley could pay the lawsuit damage and legal fees that he is solely responsible for.

[willyw]

Find the line which starts; "The Company’s 2022 corporate goals include (i)"....

Each subsequent condition starts with another Roman numeral;
The Company’s 2022 corporate goals include (i) achievement of specified revenue targets (35% weighting), (ii) achievement of cash runway goals (10% weighting); (iii) achievement of OPULTM Relational Commerce Platform goals (10%); (iv) achievement of regulatory milestones related to DaxibotulinumtoxinA for Injection for the treatment of glabellar lines (35% with an opportunity for an additional 10% based on the timing of achievement); (v) achievement of diversity and inclusion and organizational culture initiatives (10% weighting); as well as (vi) additional stretch goals relating to: other clinical and regulatory and product pipeline timing and milestones (20% weighting) and stretch revenue targets (5% or more based on achievement level).

I'd think these percentages should add up to 100%. (they add up to 135 as pointed out by Jbog)
But I'm way out of my depth

[vinmantoo]

ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS;

This isn't followed up in any way. People may leave but nothing about compensation or severance.

[DewDiligence]

RVNC quiz answer: There is no breakdown of (bonus) shares vs options for Abhay Joshi, as there is for the other four listed officers.

Why does this matter? Well, Abhay Joshi, who is nominally the COO and in charge of manufacturing, has not participated on any RVNC CC since the inspection screw-up. Moreover, the number-two position in the company was recently awarded to (former CCO) Dustin Sjuits in a PR that made no mention of Joshi. Further, no Form-4 filings, which are required for all executive officers, have been made for Joshi since Mar 2021.

RVNC IR told me Joshi is still employed at RVNC, but my contention is that he is no longer an executive officer of the company. I.e. Joshi was demoted as a result of the inspection screw-up, but RVNC has not disclosed this.