MEDX ... anybody following? Message Board

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Biotech / Medical : MEDX ... anybody following?

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From: Icebrg	3/5/2008 3:01:23 AM
	of 2240

Medarex pecking order update. With the financials out of the way, yesterday was pay-day for Medarex management, as management awarded itself for a good job done (or whatever the official reason was). Pien, CEO: Restricted stock units: 90.000; options 270.000 Schade, Beancounter: Restricted stock units 45.000; options 135.000 Lonberg, Science guru: Restricted stock units: 43.000; options 129.000 Geoffrey, Product dev: Restricted stock units: 40.000; options 120.000 Pepin, Bus dev: Restricted stock units: 17.800; options 53.400 Bartels, Gen Councel: Restricted stock units: 10.400; options 31.200 It is a nice touch by the management to hand out a lot of free stock - just in case those options never gets in the money. It should be good for the officers of the company to know that they will be able to reap some additional benefits of their employment even if their collective performance should turn out to be sub-par. As we all know: Shit happens, especially in biotech. It is (at least to my mind) amazing to see that Schade collects more than the two guys who can actually make a difference. As far as I am concerned, I think there should be a moratorium on these type of gifts until the company has proven itself by getting Ipilimumab approved. Looking back at the past year, I think 10.000 options each should be enough considering the mess they have run into with the Ipilimumab file. Erik

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