What do you think? CGG is getting better?
4 replies (most recent on top)
Good point. But TGS's share price didn't respond to their strong Q2 as well. Share price may be not a good indicator this time.
If the Q2 results were that good why their share price didn't react accordingly. For instance, I expected the price of their stocks jumps by at least 8%.
6.4M shares in stock options @2,15€ is management worth it ?
I hope some of you will get a portion of it
New stock option plans and performance shares allocation plan
On June 27, 2018, the Board of Directors allocated:
732,558 options to the Chief Executive Officer. Their exercise price is €2.15. The options vest in four batches, in June 2019 (for 25% of the options allocated), June 2020 (for 25% of the options allocated), June 2021 (for 25% of the options allocated) and June 2022 (for 25% of the options allocated). Such vesting is subject to performance condition related to CGG share price. The options have an eight-year duration.
1,141,088 options to the Executive Leadership members. Their exercise price is €2.15. The options vest in four batches, in June 2019 (for 25% of the options allocated), June 2020 (for 25% of the options allocated), June 2021 (for 25% of the options allocated) and June 2022 (for 25% of the options allocated). Such vesting is subject to performance conditions related to CGG share price. The options have an eight-year duration.
4,670,743 options to certain employees. Their exercise price is €2.15. The options vest in four batches, in June 2019 (for 25% of the options allocated), June 2020 (for 25% of the options allocated), June 2021 (for 25% of the options allocated) and June 2022 (for 25% of the options allocated). The options have an eight-year duration.
157,500 performance shares to the Chief Executive Officer, 242,841 performance shares to the Executive Leadership members, and 2,708,180 performance shares to certain employees. The performance shares vest in two batches, in June 2020 (for 50% of the shares allocated) and June 2021 (for 50% of the shares allocated). The end of the acquisition period for the first batch of these performance shares is set at the latest of the two following dates: June 27, 2020 or the date of the Annual Shareholders’ Meeting convened to approve the financial statements for fiscal year 2019, provided that the Board of Directors decides that the performance conditions set forth in the plan regulation have been fulfilled. The end of the acquisition period for the second batch of these performance shares is set at the latest of the two following dates: June 27, 2021 or the date of the Annual Shareholders’ Meeting convened to approve the financial statements for fiscal year 2020, provided that the Board of Directors decides that the performance conditions set forth in the plan regulation have been fulfilled.
NO.
Net debt has increased from $659m to $716 and the leverage ratio now x1.9
CEO is trying to fool staff into thinking these results are good.
Also means the bonus will be minimal if paid at all, except to directors and shareholders.
No doubt they will all have got a new company car this year as per usual.