Replies to post #13491 on GTC Biotherapeutics (fka GTCB)

[croumagnon]

"Establishing or amending severance payments to take effect on a change of control can be a signal that a company has entered into serious buyout discussions."

Or maybe they checked the result of your Survey by a sampling of shareholders and got scared...:)

[go seek]

buyout speculation would buoy the PPS...

are not severence agreements fairly standard? i.e. one year salary et al.?

what is new? they were extended to all execs?

perhaps they thought it was time to do an amendment, the old agreements were dated 2001 and 2004.

perhaps not...













The creation of a thousand forests is in one acorn.

[mouton29]

Re: Change-of-control agreements with executive officers

I see only the officers and none of the real workers -- the goats -- got severance packages.

[zeeuw]

Should it be a buyout, or could it be also a merger? And what about the possibility of a RS. I cannot bring that in line with a buyout. Maybe the BOD puts everything in place for all possible events. Just in case... Another possibile reason for this is tactical, to put some pressure on ongoing negotiations.

Zeeuw

[gfp927z]

Dew, Concerning the updated Change of Control agreements, just wondering to what extent the terms were changed, compared to the previous/existing agreement? Also, does GTC have a poison pill/shareholders rights plan in place? In addition to Ovation, any thoughts on other potential suitors? Thanks.


>>> The amended agreements ensure that each executive who is not retained after the buyout will receive a severance package consisting of one year’s salary and fringe benefits, a prorated portion of any bonuses that would have been earned, and immediate vesting of all stock options. <<<