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Strategies & Market Trends : Beat The Street With SI Traders
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To: Boolish who wrote (81551)5/25/2011 9:30:22 AM
From: Rocket Red  Read Replies (2) of 233882
 
Pinetree revealed it paid CEO Sheldon Inwentash $34.6-million last year

Post says Pinetree's pay scheme works well for CEO

2011-05-25 09:25 ET - In the News
Shares issued 136,547,273
PNP Close 2011-05-24 C$ 3.05

The Financial Post reports in its Wednesday edition that compensation committees should consider comparing your company with a hedge fund and pay the chief executive officer accordingly. The Post's Barry Critchley, writing in Off the Record, says this worked well for a CEO at Pinetree Capital. Pinetree defines itself as "a diversified investment, financial advisory and venture capital firm focused on investing in early stage micro and small cap resource companies." It has a market cap of $416-million. Yet in its recently released circular, Pinetree revealed it paid CEO Sheldon Inwentash $34.6-million last year, $32.2-million of which was a bonus and $1-million was in salary. His compensation for 2010 is more than 8 per cent of Pinetree's market cap. The committee drew up a list of comparable funds and the board determined Mr. Inwentash's annual cash bonus "entitlement" was equal to 10 per cent of the increase in Pinetree's shareholders equity over the 12 months ended Dec. 31, 2010. Nice, particularly in a year when hedge funds performed well. Gerry Goldberg, Bruno Maruzzo and Ronald Perry were on the compensation committee. Neither Mr. Goldberg nor Mr. Perry, a director since 2003, own any shares.
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