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If at first you don't succeed, change the goalposts – the resetting of Directors options: ref David Lenigas

By Tom Winnifrith, The Sheriff of AIM | Friday 18 December 2015


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


I commented in a recent Bearcast that Director's options should be set at a price so as to reward success not failure, and to align Directors' interests with shareholders.  Recently we have seen Debenhams reset Directors' option exercise prices downwards so that they can still be achieved despite failure and a crashing share price.  But this trick goes way back, and no-one is better at this 'move-the-goalposts' approach to performance management than Jabba The Hutt, David Lenigas. 


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