I'm surprised there's been no discussion about today's news.
On October 20, 2010, the Board of Directors also approved the grant to Mr. Gallagher of 2,500,000 options to purchase common stock. The options are exercisable immediately at an exercise price of $0.19 per share (the closing price on the grant date) and expire ten years after the grant date. For calendar year 2010, Mr. Gallagher will receive a base salary of $120,000 and will be eligible to receive a bonus of $120,000. The Company will record a charge of $357,798 in the fourth quarter with respect to the option grant. For calendar year 2011, Mr. Gallagher and the Board of Directors expect to finalize his compensation package by year-end 2010.
That's nice compensation for 1 year's work. Would be great to know a bit more how up to 1/2 million dollars further advanced HDVY's interests.
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