It appears that CC earned about 75% of his 2012 restricted stock award of 85,250 shares. It appears Hedrick earned about 70% of his 71,250 share award. I do not see as of now a new grant for either in 2013 (although they are no doubt coming).
Between the awards earned (and the new awards yet to come) plus the new option grants, these people are being compensated way beyond both their accomplishments and the size of the Company. Dean certainly has not brought any discipline to this virtual piggy bank.
Dean has not and will do nothing to change the culture that exists at Cytori. It is a shareholder be dammed attitude. CC is going nowhere and will be left to fumble and bumble as he has. It's just more of the same. and mangement is being compensated way more then what they deserve unlike the majority of us who get compensated based on performance. IF CC worked in my industry he would have been ouit of a job long ago. No question Cytori has great science and a shame Dean is content to let poor business people run this business. Time is not our friend, not when it comes to money nor when it comes to competition catching up. Come March we will all just be listening to the same BS we have been listening to for years.
Correction: the restricted stock award achievement for 2012 was 58%. The difference arises because there were 35,000 shares for CC and 25,000 shares for Hedrick granted on 1/30/12 that were under special circumstances and not part of the 2012 program.