Aware, Inc. - Hot or cold IPO? Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Aware, Inc. - Hot or cold IPO?

AWRE 2.140

+1.2%

Nov 24 3:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: FISHERMAN who wrote (3457)	4/29/1998 8:42:00 PM
From: David Lawrence	Read Replies (3) of 9236

Anyone else read the proxy? On the surface, it appears the cause of James Bender's departure was of recent vintage. His agreement ran through 12/31/02, and had five one-year extensions beyond that. All of his options vested on 12/31/97. If he terminates in 1998, he loses 20% of his vested unexercised options. It appears that termination by the company can only be for cause, or by Bender with [3 months?] notice. The "for cause" clause contains the usual suspects (death, disability, moral turpitude, etc.), including causing material harm to the company by act or omission. Judging by the proxy material, one can surmise that his departure was not contemplated at the time the proxy was drafted. It's been suggested to me by another threadster that it could be health related. While I hope that's not the case for Jim's sake, it would go a long way towards explaining the sudden departure. Any ideas?

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next