|
|
Post by runner on Sept 3, 2024 11:28:30 GMT -5
Stuart Tross, MNKD's Chief People & Workplace Officer (which used to be called Human Resources), sold 80,000 shares on Friday at $6.32 a share. He must be happy with his timing.
Is this a nothing burger or lunch on us?
|
|
|
|
Post by uvula on Sept 3, 2024 11:33:55 GMT -5
Stuart Tross, MNKD's Chief People & Workplace Officer (which used to be called Human Resources), sold 80,000 shares on Friday at $6.32 a share. He must be happy with his timing. Is this a nothing burger or lunch on us? A more interesting question is how much compensation does the head of HR of a relatively small company get? According to salary.com: As EVP, Chief People and Workplace Officer at MANNKIND CORP, Stuart A. Tross made $2,220,253 in total compensation. Of this total $412,478 was received as a salary, $296,984 was received as a bonus, $0 was received in stock options, $1,480,800 was awarded as stock and $29,991 came from other types of compensation. This information is according to proxy statements filed for the 2023 fiscal year. Is this typical? |
|
|
|
Post by runner on Sept 3, 2024 11:54:47 GMT -5
In my business experience this is at the very, very high end for a head of HR, particularly the nearly $300k bonus in 2023, a year in which not much happened and the share price dropped over 20%.
|
|
|
|
Post by ktim on Sept 3, 2024 12:01:41 GMT -5
Why would they sell, according to people here the share price will be at $10 this month. Did we forget to tell them of this "fact".
|
|
|
|
Post by prcgorman2 on Sept 3, 2024 12:14:14 GMT -5
He knew last week that this week the market was going to tank (and MNKD along with it). Or who knows? FYI - to compare compensation it needs to be like kind and size (at least), not just like size. How much does UTHR's HR officer get? They don't actually have one. It's President and COO Michale Benkowitz who earns $8M.
|
|
|
|
Post by mytakeonit on Sept 3, 2024 13:07:41 GMT -5
Tross's sale was normal because it is part of his salary ... something that he will continue to receive in the future and probably do the same.
So far we are holding above $6 today ... last Tuesday we closed at $5.38 ... previous Tuesday we closed at $5.25 ... I believe that we are fine.
|
|
|
|
Post by cretin11 on Sept 3, 2024 13:55:27 GMT -5
In my business experience this is at the very, very high end for a head of HR, particularly the nearly $300k bonus in 2023, a year in which not much happened and the share price dropped over 20%. I agree with you, especially regarding the bonus. It's a consistent theme with MNKD execs, no reason to expect that to change IMO. |
|
|
|
Post by prcgorman2 on Sept 3, 2024 15:37:23 GMT -5
In my business experience this is at the very, very high end for a head of HR, particularly the nearly $300k bonus in 2023, a year in which not much happened and the share price dropped over 20%. I agree with you, especially regarding the bonus. It's a consistent theme with MNKD execs, no reason to expect that to change IMO. Take it up with the Board of Directors and their Compensation Comittee. |
|
|
|
Post by prcgorman2 on Sept 3, 2024 15:38:32 GMT -5
Tross's sale was normal because it is part of his salary ... something that he will continue to receive in the future and probably do the same. So far we are holding above $6 today ... last Tuesday we closed at $5.38 ... previous Tuesday we closed at $5.25 ... I believe that we are fine. Outperformed NASDAQ for sure, and really pleased it stayed above $6 so far. |
|
|
|
Post by cretin11 on Sept 3, 2024 16:00:23 GMT -5
I agree with you, especially regarding the bonus. It's a consistent theme with MNKD execs, no reason to expect that to change IMO. Take it up with the Board of Directors and their Compensation Comittee. GLWT |
|
|
|
Post by prcgorman2 on Sept 3, 2024 16:28:30 GMT -5
Take it up with the Board of Directors and their Compensation Comittee. GLWT Agree. Officer compensation is a fair target for helping to make an investing decision, but how much is too much? Similarly, I assume few refuse to invest in any public company where an officer sells shares they own. Now, if an officer sells all or almost all their holdings, and if they're not alone, that is helpful to know! |
|
|
|
Post by porkini on Sept 3, 2024 17:06:21 GMT -5
While I believe it is an advisory vote, why not vote your shares annually on the compensation issues? Enough shareholders with hundreds, thousands, tens of thousands, hundreds of thousands, heck, millions of shares, well, if they were to vote against some of those items, it would certainly get the attention of the board and executives and maybe even get some good/bad press for someone!  |
|
|
|
Post by cretin11 on Sept 3, 2024 18:06:33 GMT -5
porkini, yes shareholders can and should vote on that issue. In fact, they do, but it’s mostly a futile effort based on how the voting numbers work out.
That said, several years back the number of votes against the proposed exec comp package was so high that it definitely got the attention of the board. The bonus “formula” was apparently felt to be egregiously overgenerous based on the previous year’s performance. I believe there was some press release or something, acknowledging the issue and promising to do better.
Others will remember better. But I can’t recall if it’s truly an advisory vote or a vote with actual teeth.
|
|
|
|
Post by awesomo on Sept 4, 2024 1:34:49 GMT -5
Institutional shares will pretty much always vote in favor of the board barring some sort of mutiny or activist effort. It is an execs world so they will scratch each others’ backs. MNKD is over 50% institutionally owned so they would already hold the majority. Also, the vast majority of retail shareholders don’t bother to vote so these votes disappear into the ether.
In conclusion, retail shareholders don’t have a shot in hell of influencing any vote.
|
|
|
|
Post by porkini on Sept 4, 2024 7:29:51 GMT -5
Institutional shares will pretty much always vote in favor of the board barring some sort of mutiny or activist effort. It is an execs world so they will scratch each others’ backs. MNKD is over 50% institutionally owned so they would already hold the majority. Also, the vast majority of retail shareholders don’t bother to vote so these votes disappear into the ether. In conclusion, retail shareholders don’t have a shot in hell of influencing any vote. And yet, I still vote my shares.  |
|
