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The quarterly report that Comverge, Inc. (COMV) filed July 30 left us hoping that the company’s attorneys, accountants, and especially Steve Moffitt, its Executive Vice-President of Engineering and Operations, all have good senses of humor. We chuckled at Exhibit 10.5 to the Q, the company’s Executive Employment Agreement with Moffitt. Once you get past the standard provisions [...]
Earlier this week, MFA Financial, Inc. (MFA), a real estate investment trust that invests in residential mortgage-backed securities (“on a leveraged basis,” its website notes), amended the employment agreement with Stewart Zimmerman, its Chairman of the Board/CEO. The agreement itself was attached to this 8-K. Zimmerman’s prior agreement was set to expire December 31, 2010, [...]
When it’s time to make executive compensation decisions, companies seek input from several sources. Those usually include the Compensation committee, the executives themselves, and outside consulting companies that specialize in researching what other executives at the ubiquitous “peer companies” earn. But Comp committees often act as though shareholders – like children born in the 1950s [...]
The long weekend brought a bounty of riches to the footnoted table: some amusing, some intriguing, some just odd. Rather than focus on just one, we decided to take a quick spin through a few of the more unusual: Risky eating — The health-reform bill may prove better for your waistline than some restaurant bottom [...]
In Round 2 of “Duking it Out in the Boardroom,” we focus on the directors’ spat at Ohio-based Myers Industries, Inc. (MYE). Founded in 1933, the company has grown into what it now describes as “an international manufacturer of polymer products for industrial, agricultural, automotive, commercial, and consumer markets.” The disagreement involves Stephen E. Myers, [...]
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