The Board of Directors (the "Board") of MusclePharm Corporation (the "Company") approved a discretionary cash bonus of $112,500 to be paid o
I think the independenter directors are getting an annual $35000 cash retainer and an annual stock grant worth $80000. Add in - for some reason - a bonus of $112500 and they're getting a minimum of $225k.
I googled "pay for board of directors" and an found article dated May 30, 2013 that starts thusly:
"Pay for directors at Standard & Poor’s 500 Index (SPX) companies rose to a record average of $251,000 last year, the sixth straight year of increased compensation since federal rules began requiring disclosure."
I then looked up the S&P 500 Index and found that one of the requirements for listing was a market cap of at least $4 billion.
So MSLP - with a market cap of about $80M - is paying its independent directors about as much as are companies with market caps that are - at a MINIMUM - 50x larger.
This is NOT the sort of "INTENTIONALLY LOSING MONEY" behavior with which I am ok.
Yeah, its pretty disgusting that they keep raising their pay. Essentially their pay is 1million/year, with 4 execs, the top 4 people in any company shouldn't be making 2% of what their market cap is.... that would be like the top 4 execs at EXXON making 500million a year.....
Not sure when they will get a clue - Pyatt is too young and dumb to be CEO, he needs to step down and hand over the reigns to someone more capable.
I agree unfortunately with much of what's been expressed here. I also think there are bigger things down the road in terms of possible achievements and catalysts, that make this company so compelling in terms of valuation. So do I put up with the nonsense pay and benefits packages, and wait and see if they deliver on their share price? Or do I take a small profit and move on? I think I'm going to wait it out a bit, the upside seems greater than the downside at this point. But that's just me.