EDITED: "a bunch of good guys". They ARE good guys and properly motivated by greed. HOWEVER, when I look at the totality of actions over the past few years i.e.:
* very slow to complete 3G deals;
* many back-end loaded 2G deals e.g NOK, Ericy;
* New ISO plan in 2000 which was very generous with 10M shares
* ISO increase of 2M additional shares in 2002;
* ISO addition of another 2M shares "not approved by shareholders";
* Confusing insider sales in a coordinated group fashion that stop every rally;
* Request for yet another 5M more ISO shares in 2003 (Proxy Proposition #2).
Given these facts, I must INFER that management is executing a personal strategy to increase their ISO shares BEFORE increasing the stock price. This strategy by management does not surprise me and it should not surprise anyone.
Furthermore, I realize that the current compensation package is extremely generous already, based on 20 years experience in private equity and Fortune 100 M&A work. So IMO, there is absolutely NO need for us cash investors to dilute the value of our stock in IDCC any further.
If you really want to have "a lot more fun", vote "NO" on Proposition #2 and then watch management drive our share price, for our benefit as well as thiers, but without any more dilution of our investment in IDCC stock.
It will be "a LOT more fun" if we shareholders properly focused management's attention to finally increasing the share price, not the number of shares they can accumulate via ISO.
Regards,
Corp_Buyer
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