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To: SDR-SI who wrote (1599)11/5/1998 6:10:00 PM
From: hookjock  Read Replies (1) | Respond to of 2919
 
Took a brief look at the proxy,

1)Woodbury nad Parks are up for re-election
2)Amend the certificate of Incorporation so they can issue preferred stock

These are the two main points. They tried to pass this preferred stock item last year but it got voted down. They say the availability of preferred stock would:"provide the company with flexability of action for possible future financing transactions,including acquisitions,employee benifit plans and other corporate purposes."

They revealed their bonus package in the filing:

Placek made $178,209 in salary with a bonus of $10,331

Woodbury made $130,786 in salary with a bonus of $7,582

Smith made $108,333 in salary with a bonus of $25,000



To: SDR-SI who wrote (1599)11/5/1998 7:09:00 PM
From: hookjock  Respond to of 2919
 
A few other observations:

Placek owns 1,920,726 shares which includes 10,656 in the company 401K options to purchase 153,000 shares and 70,000 shares in which Placek has sole voting power
His percentage of benificial ownership is 15.7%.

Woodbury owns -0- shares except for 3938 in the 401K and 61,500 shares subject to stock options.

The rest of the "insiders" excluding Placek owns 2% of outstanding stock.


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