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Post by sla55 on Oct 30, 2017 15:50:30 GMT -5
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Post by captainwalker on Oct 30, 2017 15:55:32 GMT -5
5.75% Convertible Senior Subordinated Exchange Notes Due 2021 ?
Hmm... Looking for the cliff notes... for a friend of course...
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Post by nylefty on Oct 30, 2017 16:05:30 GMT -5
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (b) (e) On October 24, 2017, the Company entered into a transition and separation agreement (the “Agreement”) with Matthew J. Pfeffer, the Company’s former Chief Executive Officer and Chief Financial Officer, regarding the terms of Mr. Pfeffer’s transition and separation from the Company. Contemporaneously with his execution of the Agreement, Mr. Pfeffer submitted his resignation as a director of the Company, effective immediately. Pursuant to the Agreement, and provided that Mr. Pfeffer does not revoke his acceptance of the Agreement before November 1, 2017, Mr. Pfeffer will provide the Company with a general release of claims and will remain employed with the Company to provide transition and other services through February 1, 2019, subject to his earlier resignation or termination by the Company. Mr. Pfeffer will report to the Company’s principal executive officer during the term of the Agreement, serving in a non-executive capacity. During the term of the Agreement, and in lieu of any severance benefits Mr. Pfeffer may have been entitled to receive pursuant to the terms of his Executive Severance Agreement or Change of Control Agreement with the Company, Mr. Pfeffer will be entitled to receive his current annual base salary of $490,350. Mr. Pfeffer will also be eligible to receive an annual bonus for 2017 pursuant to the standard bonus compensation structure applicable to the Company’s executive officers. In addition, if Mr. Pfeffer remains employed with the Company through February 1, 2019, remains in compliance with the Agreement and all Company policies, and provides the Company with an effective general release of claims within 21 days after that date, the Company will pay Mr. Pfeffer a severance payment in the amount of $345,000. |
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Post by kc on Oct 30, 2017 16:15:20 GMT -5
The interest-rate being 5.75% compared to what it had been. It’s evident that Matt was working behind the scenes on all this restructuring.
Again the company is better structured to move forward. I hope we see the PPS moving up
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Post by tingtongtung on Oct 30, 2017 16:15:42 GMT -5
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (b) (e) On October 24, 2017, the Company entered into a transition and separation agreement (the “Agreement”) with Matthew J. Pfeffer, the Company’s former Chief Executive Officer and Chief Financial Officer, regarding the terms of Mr. Pfeffer’s transition and separation from the Company. Contemporaneously with his execution of the Agreement, Mr. Pfeffer submitted his resignation as a director of the Company, effective immediately. Pursuant to the Agreement, and provided that Mr. Pfeffer does not revoke his acceptance of the Agreement before November 1, 2017, Mr. Pfeffer will provide the Company with a general release of claims and will remain employed with the Company to provide transition and other services through February 1, 2019, subject to his earlier resignation or termination by the Company. Mr. Pfeffer will report to the Company’s principal executive officer during the term of the Agreement, serving in a non-executive capacity. During the term of the Agreement, and in lieu of any severance benefits Mr. Pfeffer may have been entitled to receive pursuant to the terms of his Executive Severance Agreement or Change of Control Agreement with the Company, Mr. Pfeffer will be entitled to receive his current annual base salary of $490,350. Mr. Pfeffer will also be eligible to receive an annual bonus for 2017 pursuant to the standard bonus compensation structure applicable to the Company’s executive officers. In addition, if Mr. Pfeffer remains employed with the Company through February 1, 2019, remains in compliance with the Agreement and all Company policies, and provides the Company with an effective general release of claims within 21 days after that date, the Company will pay Mr. Pfeffer a severance payment in the amount of $345,000. Interesting - isnt it? MNKD doesn't want to let go of its people.. So, Matt gets that "change of something" agreement, and retains his pay, and gets the paltry 345K if he stays until feb 2019? I have no idea about the significance of this.. |
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Post by op2778 on Oct 30, 2017 16:32:35 GMT -5
So, Matt is still sucking us as a PIRAÑA------Damn
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Post by therealisaching on Oct 30, 2017 16:40:41 GMT -5
C'mon. Who do you think helped structure the offering?
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Form 8-K
Oct 30, 2017 16:56:45 GMT -5
via mobile
Post by ghochr on Oct 30, 2017 16:56:45 GMT -5
Well it’s the share holders money so why do they care if they pay him till 2019? Hakan got paid too for nothing. The one company that pays for every one except returns to investors 😀
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Post by ghochr on Oct 30, 2017 16:58:35 GMT -5
C'mon. Who do you think helped structure the offering? How do you know who helped? If you are implying Matt then what’s the new CFO doing and why would he sit silent if some one else is stepping in his job |
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Post by nylefty on Oct 30, 2017 17:29:50 GMT -5
C'mon. Who do you think helped structure the offering? How do you know who helped? If you are implying Matt then what’s the new CFO doing and why would he sit silent if some one else is stepping in his job Why do you assume he sat "silent?" I assume they worked together. |
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Post by barnstormer on Oct 30, 2017 17:32:11 GMT -5
It is difficult to fire a CEO that haslong term employent and been promoted from within unless they have done something unethical. This agreement was probably negotiated after Matt started talking wrongful termination suit. You cant just tell a CEO to GTFO. IMHO
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Post by compound26 on Oct 30, 2017 17:39:56 GMT -5
How do you know who helped? If you are implying Matt then what’s the new CFO doing and why would he sit silent if some one else is stepping in his job Why do you assume he sat "silent?" I assume they worked together. I do not think Matt is sitting there doing nothing and collecting his pay. Based on this post: mnkd.proboards.com/post/107516 Matt was actively working on a few items as of the annual shareholder meeting (May 18/2017)(right before Mike was publicly announced to replace him as CEO). I think at that point of time (May 18/2017), Matt already knew that Mike was going to replace him as CEO. |
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Post by babaoriley on Oct 30, 2017 18:48:38 GMT -5
Pretty typical deal, there, folks, nothing more to see. As far as how much he's working with the company, my guess would be pretty close to zero. And that's the way it ought to be, we have people that can move forward, and it would be pretty uncomfortable for an ousted CEO to work with a new CEO's regime. Those releases are worded to leave shareholders with some warm and fuzzy feelings. Forget that, it would be most unusual.
Forget - Sla, well done!
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