JimLur, bashing the management and pointing out their mistakes is one issue, but, accusing them of some conspiracy could be completely out of line. Please, check the posts that are accusing management of conspiracy (I assume you know what posts I am referring to). This is a great information board and I don't want someone with some hidden agenda start messing it up.
There were RSU grants in January and 2/28/05 with the buyback occuring in earnest over the last 7-9 trading days -- I'm counting on good news coming but IMO there will be no RSU grants before the ASM.
Corp-Buyer: Since the program was started during the 2004 FY the initial program starting date was April 1, 2004, and that is when the awards were made. The next program starting date was January 1, 2005, and awards were also made on that date. The way I read the program document it looks like new programs will start every other year on January 1. For some reason there were additional RSU awards in much smaller amounts on February 28, 2005, I don't know how they relate to the program, unless they were some type of adjustment based on prior year goal attainment.
For your information the details of the Long Term Incentive Program are at:
( BTW: I now understand what your calculated $11 Million bonus amount represents.)
"RSU awards are calculated based on the target percentage of base salary of an eligible participant divided by the Company’s closing share price on the date of the RSU award (i.e., April 1, 2004 for the initial Program cycle)."
So, does this mean it is in management's SELF INTEREST to have a LOWER stock price around March/April, when the RSUs are granted???
Accordingly, there is absolutely no reason to expect management to do or finalize anything to increase the stock price prior to the upcoming RSUs grants, right?
Then, like magic, maybe there will be some positive events that come to fruition only after the next RSU grant and prior to the ASM?
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