The ugly reality of COBR 13-Nov-09 09:37 am It makes me SICK to my fucking stomach !
This company is exactly whats wrong with corporate america.
Total compensation of the top 4 officers over the last 3 Years was $6,034,633.
The entire board & top 4 officers combined own 172,203 shares excluding options. (2.66%)
The CFO owns 1600 shares. The CEO 58,003.
Total "change of control" payments owed the 4 officers in a change of control woule be $5.85 million.
The cheapest way to get rid of the top 4 would cost $5.22 million. (Reasons other than Death or cause)
The approximate combined years of service of the top 4 is 38 years.
So they've been sucking out money for many many years.
Oh, and the company bought $600k worth of stock from the CEO 3 years ago at $9.117. (On November 10, 2006, the Company purchased 65,809 shares of Company stock from Mr. Bazet for $9.117 per share, a discount to the market price)
Since then, they "awarded" him $50,000 in cash with which to buy shares with. 13,900 I think.