If you haven't already reached a point of madness the compensation report is now in. There can be no denying what the motives of senior management and the Board of Directors are now. The co-CEOs were given a total compensation package of $757,188 (a record payout I might add) which included a bonus of $370,938 each on top of their base salary of $386,250
I only have the upmost in disgust for the Board and the consultants that authored the holly grail that management is always so quick to point to as justification for these ridiculous payouts - this is a travesty of epic proportions. These bonuses represent 10% of the current market cap of the company
The Corporate Objectives related to: (i) commercialization of Synera®; (ii) enhancing the proprietary position of the Pennsaid® franchise; (iii) WF10 development and financing; (iv) regulatory approval of Pliaglis®; (v) maintaining cash resources; (vi) corporate succession planning and (vii) alliance management.
Gentlemen give me a break! On the same day you post a report that says you don't control Pennsaid marketing, Pennsaid 2% development and the Pliaglis regulatory approval process you recklessly take down the cash balances in the corporation (in the failed Synera marketing strategy) you have the audacity to states that this deserves a payout of almost 100%? Risk of a shareholder revolt? You think?