I would like to see ATRS management do all they can to make sure ATRS will benefit fom this article more than Madec doe's !!!
I will try to eaplain to you mbus question AGAIN:
Why Apple was not appointed as CEO when Wotton left?
Why selecting Hobbs who already miserably failed at DCTH ?
You said the same on Hobbs:
"No one wants to be presiding over a failure."
Well, he did and he didn't care since he was overpaid and well compensated to do so, without the BOD doing nothing all this time.
Maybe you need to re-think your assumptions ???
(But I do hope he will be a Success)
(i) The Company will pay to the Executive severance equal to twelve (12) months of the Executive’s Base Salary at the rate in effect immediately prior to the Executive’s termination of employment, less applicable tax withholding, paid in equal monthly installments beginning within the sixty (60)-day period following the date of the Executive’s termination of employment and continuing on each payroll date thereafter until fully paid, in accordance with the Company’s regular payroll practices. The first severance payment will include any missed payments during such sixty (60)-day period.
(ii) The Company will pay to the Executive a pro rata Annual Bonus for the year in which the termination of employment occurs, which shall be determined based on Executive’s actual Annual Bonus earned for the year in which termination of employment occurs (if any), based on actual performance, multiplied by a fraction, the numerator of which is the number of days in which the Executive was employed by Company during the year in which the termination of employment occurs, and the denominator of which is three hundred sixty-five (365). The pro rata Annual Bonus described in this subsection 3(c)(ii) will be paid at the same time and under the same terms and conditions as bonuses are paid to other executives of the Company, on or after January 1 but not later than March 15 of the calendar year following the calendar year in which the Executive’s employment terminates, subject to Section 5(b) below.
(iii) For the twelve (12) month period following the Executive’s termination of employment, provided that the Executive timely elects COBRA, the Company will reimburse the Executive for the monthly COBRA cost of continued medical and dental coverage for the Executive and, where applicable , his spouse and dependents, at the level in effect as of the date of the Executive’s termination of employment, less the employee portion of the applicable premiums that the Executive would have pa
Now, we also have Mr. Peter J. Graham that Hobbes brought in from his past in order to milk more out of ATRS coffers.
Will be interesting if he can also grow wings and fly away.
Same goes to Hobbes wife who was (over)paid to do ATRS presentations lately.
Hobbs leaving is the best news so far in the last 2 years !!!
From the PR when Hobbes was elected:
"”The board is excited about having Mr. Hobbs lead Antares during the next phase of its growth. We
have worked closely with Eamonn over the past five years as Board members and share his vision
for the future,” said Leonard S. Jacob, M.D., Ph.D., Chairman of the Board of Directors. “The Board
of Antares wishes Paul success in his new endeavour. I have enjoyed working closely with him over
the past five years in building Antares into a fully integrated specialty pharmaceutical company.”"
Some speculations on my part.
We have a few funds that you can call activist (not counting Deerfield), which increase their position to over 5% in the last several month.
Just like us, they were not happy with stock and management performance and I'm sure they let the company know that.
Hobbs was disastrous to his previous company (DCTH) and to ATRS where he should never become a CEO.
I don't think the BOD had anything to do with that, since I think Jacob Leonard words, where copied from the PR when Wotton left.....
I'm waiting for the 8K to see how much severance pay this AH got and just hope Apple replacement will be within the company ....or NONE
How much money the 1,000,000 share holder lost over the last month compare to the 1000 ?
Do a re-count....
One big paycheck who done nothing is gone .
I don't know how good Apple would be, but can't be as bad as Hobbs....I hope.