During fiscal 2012, the Company accrued a total of $487,610 in executive compensation and paid $155,000 in salaries. The table below shows the compensation split:
Cash compensation
Stock issuances
Total Compensation
Dr. Robert Melamede
$60,000 (cash)
$275,963 (stock)
$335,963 (total)
Raymond Dabney
0 (cash)
275,963 (stock)
275,963 (total)
Richard Cowan
55,000 (cash)
1,381,250 (stock) He also stepped down from his position as CFO and returned his 333,333 preferred shares back to the company treasury.
1,436,250 (total)
Chad S. Johnson
0 (cash)
8,323 (stock)
8,323 (total) For a whopping grand total of
$115,000 (total cash)
$1,941,499 (in 144 restricted stock with Cowan being the only person registered to sell and I assume it's because he is retiring)
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