Of course their web site is up. They are not out of business. Just the shareholders are. Keep in mind that after the reorg. they will actually be allowed to issue shares to more people and keep operating their business. With the same management. With the same salaries (which you paid for). With the same perks. With new stock options granted to them. With golden parachute packages.
SUMMARY COMPENSATION TABLE
<TABLE>
<CAPTION>
ANNUAL LONG-TERM COMPENSATION
COMPENSATION(1)
Fiscal Number of Securities
NAME AND PRINCIPAL POSITION PERIOD SALARY BONUS UNDERLYING OPTIONS(2)
<S> <C> <C> <C> <C>
Jared E. Abbruzzese 1998 $350,000 $154,575 575,000
Chief Executive Officer 1997 350,000 - 350,000
1996 277,300 150,000 -
John J. Prisco(3) 1998 200,000 64,575 350,000
President and Chief Operating Officer 1997 200,000 40,000 150,000
1996 12,308 - 200,000
James P. Ashman 1998 183,000 61,763 177,000
Chief Financial Officer 1997 183,000 - 100,000
1996 140,100 - 40,000
Gerald Stevens-Kittner(4) 1998 180,000 53,775 140,000
Senior Vice President - Spectrum 1997 170,343 - 20,000
Management 1996 3,558 - 120,000
Bruce Kostreski(5) 1998 144,399 70,281 45,000
Senior Vice President - Engineering 1997 125,000 - 15,000
1996 4,808 - 30,000
</TABLE> |
