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Post by markado on Aug 16, 2019 11:52:47 GMT -5
In the past, relative to employee open market ownership of shares, we've been provided their participation in their stock ownership plan, etc. This is simply insufficient. Agreeing to work for a microcap, yes, comes with given risk. But, agreeing with a company's mission and vision isn't at all the same to demonstrating one's belief in the company to get it done. The CEO of GE just showed the market he believes in himself and in his team.
I think it's high time for the multi-million dollar earners on MNKD's payroll, to show they believe they are and can "get it done" by purchasing 10's of thousands, if not multiple 10's of thousands of dollars of MNKD, to show the market they BELIEVE in MNKD, not that they just AGREE with it. Seriously, what's $50k on the open market, when you're taking home 10x that, post tax on a yearly basis? IF you believe in yourself, your abilities and those of the management team around you, what have you got to lose? Do you project more or less confidence to the market by not doing so. "For, where your money lies, there does your heart also."
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Post by Actual Investor on Aug 16, 2019 12:12:17 GMT -5
If you can't provide proof of MULTI-MILLION dollar incomes for employees, then just go away.
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Post by markado on Aug 16, 2019 12:21:43 GMT -5
If you can't provide proof of MULTI-MILLION dollar incomes for employees, then ust go away. Well, actual investor, I'm pretty certain the stated compensation for each member of our C-suite, plus several VP's is at or above $1m per year, all-in, including options. And, as a holder of multiple 10's of thousands of shares, myself, I have every right to ask this of our executives. So, I will not "go away." I believe in MNKD. I believe in the growth opportunities presented by Technosphere and the molecules we're pursuing. I believe the MGMT team is making progress and needs to make more. I also believe the MGMT team can demonstrate their belief in their future success more overtly, so the market can entertain greater belief in the same, also. The question is, what do you believe in? |
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Post by uvula on Aug 16, 2019 12:30:14 GMT -5
Markado,
Do you work for a public company? If so, what percentage of your 401k is invested in your company's stock? ("But I'm not in the C-suite" is not a good answer to my question.)
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Post by markado on Aug 16, 2019 13:39:20 GMT -5
Markado, Do you work for a public company? If so, what percentage of your 401k is invested in your company's stock? ("But I'm not in the C-suite" is not a good answer to my question.) Uvula, how about a more relevant answer to a question you didn't ask: I currently own a year's worth of my take home salary in MNKD stock - and I have no options for cheaper shares, but to buy at market price. How many of our seasoned and valuable execs can say the same? As an aside, I have worked for a few public companies in the past, because I believed in the products made and markets served. I participated to the maximum allowed in my ESOP programs, and, if I had confidence in our future, I placed open market buys, as well. The appreciation of those efforts, in part, is what has allowed me to put substantial personal assets in play with MNKD. |
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Post by sportsrancho on Aug 16, 2019 14:35:59 GMT -5
Buy!
There’s no excuse and no reason not to!
Now maybe some of them don’t have enough money you never know someone situation, but none of them are buying? I know I’ve said this before but in all my years in the stock market when this happens to a company people take paychecks cuts and they also buy on the open market to prove their confidence. If they’re trying to create a new image then step up!
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Post by matt on Aug 16, 2019 14:52:44 GMT -5
If you can't provide proof of MULTI-MILLION dollar incomes for employees, then ust go away. Seriously, what's $50k on the open market, when you're taking home 10x that, post tax on a yearly basis? Well, actual investor, I'm pretty certain the stated compensation for each member of our C-suite, plus several VP's is at or above $1m per year, all-in, including options. And, as a holder of multiple 10's of thousands of shares, myself, I have every right to ask this of our executives. So, I will not "go away." Factually, no MNKD executive is making $500K after tax. The highest cash compensation last year was MC and he made $650K pretax, which after 11% California state income tax and a 37% federal rate (plus an uncapped FICA contribution) his after tax take home would be no more than 55% of the gross, or $357K (assuming he still got some permitted deductions that did not get totally phased-out). Some California residents are closer to a 50% tax leak. $357K is not exactly minimum wage, but it is not a multi-million dollar salary either, especially considering the somewhat crazy California real estate prices. At the end of the day, it is only realized after-tax cash compensation that counts. What gets reported in SEC documents as option value is the theoretical value based on the Black-Scholes formula or a binomial pricing model; it does not reflect how much profit the executive actually made. In the late 90's I was hired to run a start-up and between the time I agreed to join the company and the time I actually started, the dot-com explosion happened and my theoretical option value shot through the roof. In that year the SEC filing said I made $28 million on those options while, in fact, they all expired worthless and I took home exactly zero in cash! In short, the income that gets reported under SEC rules is very different than what an executive brings home (you can talk to my wife about the fact that the grocery store does not take options in exchange for feeding three children). All the options the MNKD officers got in 2018 were issued at $1.91 so they are as underwater as the shareholders. That is $833 thousand in SEC reported "income" that MC will likely never see in his wallet and, if he ever does, the tax man will be happy to take his half. As a shareholder, you have every right to question whether executive compensation is too high or not, but get your starting facts correct. You don't know what other obligations the executives have, what they gave up at previous employers to join MNKD, or anything about their personal situations. Some may have given up a lot for the opportunity to join MNKD, and shareholders do not get to dictate how they spend their current compensation or invest their accrued wealth. Any good financial adviser will tell their clients not to invest more than 5% of their net worth in any single investment, and I suspect that with salary, bonus, options, and 401(k) match every one of the executives are already overdependent on the value of MNKD; that is true for senior executives at most companies. |
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Post by mcloven on Aug 16, 2019 15:19:08 GMT -5
Seriously, what's $50k on the open market, when you're taking home 10x that, post tax on a yearly basis? Well, actual investor, I'm pretty certain the stated compensation for each member of our C-suite, plus several VP's is at or above $1m per year, all-in, including options. And, as a holder of multiple 10's of thousands of shares, myself, I have every right to ask this of our executives. So, I will not "go away." Factually, no MNKD executive is making $500K after tax. The highest cash compensation last year was MC and he made $650K pretax, which after 11% California state income tax and a 37% federal rate (plus an uncapped FICA contribution) his after tax take home would be no more than 55% of the gross, or $357K (assuming he still got some permitted deductions that did not get totally phased-out). Some California residents are closer to a 50% tax leak. $357K is not exactly minimum wage, but it is not a multi-million dollar salary either, especially considering the somewhat crazy California real estate prices. At the end of the day, it is only realized after-tax cash compensation that counts. What gets reported in SEC documents as option value is the theoretical value based on the Black-Scholes formula or a binomial pricing model; it does not reflect how much profit the executive actually made. In the late 90's I was hired to run a start-up and between the time I agreed to join the company and the time I actually started, the dot-com explosion happened and my theoretical option value shot through the roof. In that year the SEC filing said I made $28 million on those options while, in fact, they all expired worthless and I took home exactly zero in cash! In short, the income that gets reported under SEC rules is very different than what an executive brings home (you can talk to my wife about the fact that the grocery store does not take options in exchange for feeding three children). All the options the MNKD officers got in 2018 were issued at $1.91 so they are as underwater as the shareholders. That is $833 thousand in SEC reported "income" that MC will likely never see in his wallet and, if he ever does, the tax man will be happy to take his half. As a shareholder, you have every right to question whether executive compensation is too high or not, but get your starting facts correct. You don't know what other obligations the executives have, what they gave up at previous employers to join MNKD, or anything about their personal situations. Some may have given up a lot for the opportunity to join MNKD, and shareholders do not get to dictate how they spend their current compensation or invest their accrued wealth. Any good financial adviser will tell their clients not to invest more than 5% of their net worth in any single investment, and I suspect that with salary, bonus, options, and 401(k) match every one of the executives are already overdependent on the value of MNKD; that is true for senior executives at most companies. Thank you Matt. I really appreciate your input. |
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Post by markado on Aug 16, 2019 15:30:24 GMT -5
Seriously, what's $50k on the open market, when you're taking home 10x that, post tax on a yearly basis? Well, actual investor, I'm pretty certain the stated compensation for each member of our C-suite, plus several VP's is at or above $1m per year, all-in, including options. And, as a holder of multiple 10's of thousands of shares, myself, I have every right to ask this of our executives. So, I will not "go away." Factually, no MNKD executive is making $500K after tax. The highest cash compensation last year was MC and he made $650K pretax, which after 11% California state income tax and a 37% federal rate (plus an uncapped FICA contribution) his after tax take home would be no more than 55% of the gross, or $357K (assuming he still got some permitted deductions that did not get totally phased-out). Some California residents are closer to a 50% tax leak. $357K is not exactly minimum wage, but it is not a multi-million dollar salary either, especially considering the somewhat crazy California real estate prices. At the end of the day, it is only realized after-tax cash compensation that counts. What gets reported in SEC documents as option value is the theoretical value based on the Black-Scholes formula or a binomial pricing model; it does not reflect how much profit the executive actually made. In the late 90's I was hired to run a start-up and between the time I agreed to join the company and the time I actually started, the dot-com explosion happened and my theoretical option value shot through the roof. In that year the SEC filing said I made $28 million on those options while, in fact, they all expired worthless and I took home exactly zero in cash! In short, the income that gets reported under SEC rules is very different than what an executive brings home (you can talk to my wife about the fact that the grocery store does not take options in exchange for feeding three children). All the options the MNKD officers got in 2018 were issued at $1.91 so they are as underwater as the shareholders. That is $833 thousand in SEC reported "income" that MC will likely never see in his wallet and, if he ever does, the tax man will be happy to take his half. As a shareholder, you have every right to question whether executive compensation is too high or not, but get your starting facts correct. You don't know what other obligations the executives have, what they gave up at previous employers to join MNKD, or anything about their personal situations. Some may have given up a lot for the opportunity to join MNKD, and shareholders do not get to dictate how they spend their current compensation or invest their accrued wealth. Any good financial adviser will tell their clients not to invest more than 5% of their net worth in any single investment, and I suspect that with salary, bonus, options, and 401(k) match every one of the executives are already overdependent on the value of MNKD; that is true for senior executives at most companies. Gosh, Matt, so, you are confirming that Mike would have the option of making up to $1.19M, for 2018, concurrently or retroactively, if his options remain active and he chooses to exercise them? I'll assume, rationally, that he would, for the incrementality - tax implications a necessary nuisance. So, we'll have to agree to disagree that my facts and math are too far off the mark. Also, if an executive who received options as part of their incentive package isn't doing or doesn't do what's necessary to capitalize those options, then I'd say that sucks for them and their shareholders, as it leaves both in a lose lose situation. I'm not dictating anything. I'm just demonstrating the obvious, and a reasonable path to improved perceptions by shareholders and the market. You may not like my prescription, but our stock market rewards the strong, and punishes otherwise. We're not in this for gamesmanship and personal professional growth opportunities, we're here to change an industry for profit for all, while improving QOL for millions of patients. The stakes are high - courage and degree of investment are needed to match. I.e. LC at GE, today. |
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Post by seanismorris on Aug 16, 2019 15:32:04 GMT -5
Factually, no MNKD executive is making $500K after tax. The highest cash compensation last year was MC and he made $650K pretax, which after 11% California state income tax and a 37% federal rate (plus an uncapped FICA contribution) his after tax take home would be no more than 55% of the gross, or $357K (assuming he still got some permitted deductions that did not get totally phased-out). Some California residents are closer to a 50% tax leak. $357K is not exactly minimum wage, but it is not a multi-million dollar salary either, especially considering the somewhat crazy California real estate prices. At the end of the day, it is only realized after-tax cash compensation that counts. What gets reported in SEC documents as option value is the theoretical value based on the Black-Scholes formula or a binomial pricing model; it does not reflect how much profit the executive actually made. In the late 90's I was hired to run a start-up and between the time I agreed to join the company and the time I actually started, the dot-com explosion happened and my theoretical option value shot through the roof. In that year the SEC filing said I made $28 million on those options while, in fact, they all expired worthless and I took home exactly zero in cash! In short, the income that gets reported under SEC rules is very different than what an executive brings home (you can talk to my wife about the fact that the grocery store does not take options in exchange for feeding three children). All the options the MNKD officers got in 2018 were issued at $1.91 so they are as underwater as the shareholders. That is $833 thousand in SEC reported "income" that MC will likely never see in his wallet and, if he ever does, the tax man will be happy to take his half. As a shareholder, you have every right to question whether executive compensation is too high or not, but get your starting facts correct. You don't know what other obligations the executives have, what they gave up at previous employers to join MNKD, or anything about their personal situations. Some may have given up a lot for the opportunity to join MNKD, and shareholders do not get to dictate how they spend their current compensation or invest their accrued wealth. Any good financial adviser will tell their clients not to invest more than 5% of their net worth in any single investment, and I suspect that with salary, bonus, options, and 401(k) match every one of the executives are already overdependent on the value of MNKD; that is true for senior executives at most companies. Thank you Matt. I really appreciate your input. “Good” executives give out clues to when the worm is about to turn. NO insider buying is the clue we didn’t want. It’s less about the amount of shares than a presentation of confidence. If an exec purchased 50k (a small amount) that would go a long way to convince us they’re not just spouting B.S. MannKind has a long history of B.S and not a lot of insider buying... |
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bkdmd
Researcher
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Post by bkdmd on Aug 16, 2019 16:14:04 GMT -5
Actions speak louder than words. MC is an empty suit. I believe he has no character because he willingly took a raise from a company that has a market cap in the toilet. I believe he doesn't care about shareholders. I believe MC's number one priority is himself. If MC believed if anyone else in management believed that they were up to the task of turning this company around, they would be buyers on the open market. They are not. That is all you need to know.
He can say whatever he wants. I believe he is immature, has the entitlement mentality, and in over his head. And MC believes that too or his actions would be different.
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Deleted
Deleted Member
Posts: 0
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Post by Deleted on Aug 16, 2019 16:51:42 GMT -5
If you can't provide proof of MULTI-MILLION dollar incomes for employees, then ust go away. Well, actual investor, I'm pretty certain the stated compensation for each member of our C-suite, plus several VP's is at or above $1m per year, all-in, including options. And, as a holder of multiple 10's of thousands of shares, myself, I have every right to ask this of our executives. So, I will not "go away." I believe in MNKD. I believe in the growth opportunities presented by Technosphere and the molecules we're pursuing. I believe the MGMT team is making progress and needs to make more. I also believe the MGMT team can demonstrate their belief in their future success more overtly, so the market can entertain greater belief in the same, also. The question is, what do you believe in? If you haven't noticed MARKADO....ALL OF THEIR STOCK OPTIONS ARE UNDERWATER. They are WORTHLESS. So I dob't know where you're getting they are Multi Millionaire. Now the best scenario for the "C-Suite" is to get the stock price up so they can earn those Multi Millions. right??? Mike has turned this company around and patience is required. Now we all made the mistake of buying too soon.....so we all have to dig deep and wait. |
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Deleted
Deleted Member
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Post by Deleted on Aug 16, 2019 16:53:43 GMT -5
Actions speak louder than words. MC is an empty suit. I believe he has no character because he willingly took a raise from a company that has a market cap in the toilet. I believe he doesn't care about shareholders. I believe MC's number one priority is himself. If MC believed if anyone else in management believed that they were up to the task of turning this company around, they would be buyers on the open market. They are not. That is all you need to know. He can say whatever he wants. I believe he is immature, has the entitlement mentality, and in over his head. And MC believes that too or his actions would be different. Do we have a MIKE K. CLONE? Go back and listen and watch the CC from last week. All of your questions will be answered as to what Mike & MGMT have been up to. Please don't waste your time writing about STUPID SHIT.....Your time is more valuable than that. |
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Post by akemp3000 on Aug 16, 2019 17:12:03 GMT -5
Hard to get past using the CEO of GE as an example considering GE has just been accused of "financial fraud bigger than Enron". Even IF it turns out to not be true, GE has been so poorly managed they are spinning off or divesting transportation, healthcare and their losing oil & gas sector. The CEO is possibly showing the market "he believes in himself and his team"...of lawyers.
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Post by prcgorman2 on Aug 16, 2019 17:27:47 GMT -5
"willingly took a raise" - oh no! Sanctimony is a turn off. If Mannkind execs buy 5,000 or 50,000 or 500,000 shares on the open market it won't raise the PPS a nickel. It will make some EXISTING shareholders happy - temporarily. If they buy, great. If they don't, the folks for whom this is a cardinal issue have all the sympathy I can muster.
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