Any idea when Avaya will have this earnings call and what analysts are expecting for loss on eps?
5 replies (most recent on top)
unbelievable yet not surprising...below from dec23/2022 avaya sec filing:
Under the FY 2023 executive compensation program, certain of the Company’s named executive officers and certain other senior
officers will receive a cash award payable in a lump sum, subject to a recapture provision that generally requires repayment in the
event of a voluntary departure or termination by the Company “for cause” prior to September 30, 2023 (December 31, 2023 for Mr.
Masarek), which recapture provision will partially lapse upon certain specified events. These cash awards are being paid in lieu of
any bonus payment opportunity under the Company’s annual incentive plan that would have otherwise been established for these
executives in FY 2023 and also in lieu of the long-term equity incentive awards that historically would have been granted in the
beginning of FY 2023.
The cash awards payable to Mr. Masarek and Ms. Shah are set forth below:
Name Cash Award
Alan Masarek, President and Chief Executive Officer $6,000,000.00
Shefali Shah, Executive Vice President & Chief
Administrative Officer $1,200,000.00
Dude.
The situation is way past Sarbanes Oxley. Yet pat yourself on the back for using a big word.
They violated that many moons ago. Literally are taking the knee on that one. That's why it has become a bankruptcy discussion, even though they are not insolvent.
They want to run from the extensive counting errors /violations.
Seriously...the SEC needs to extensively investigate and press charges.
Seriously?
WOW.
Ok. Where do I begin:
- Q4 kinda is a non issue. 10qis what they are required to file each quarter. They have YET to file Q3 10q. Essentially...we don't expect any 10q release dates...the ANNUAL report is a 10k. They have already missed the deadline for the 10k per the SEC...and are way past deadline for both 10q's. Therefore....you should expect one 10k alongside a Bankruptcy Announcement...possibly tomorrow, 12-27-2022
- The Whitlblower complaint was addressed in the NT 10q & 8k filed on 11-30-2022 (NT 10q is what they file to say they are NOT filing a 10q/k...which grants them an automatic extension). The actual quote/unquote whistelblower complaint was found to be a non issue. HOWEVER, b/c of said complaint, they discovered that Avaya Chief Admin Officer did not manage proper internal controls for tracking complaints or concerns. That is why she was removed from her position (however in the 8k filed 12-23-2022 they rewarded her work a $1.2milllion bonus).
And...It's one thing that you were not aware of this. You asked. We answered. That's fair. It's another that there are so many I'll informed people who would Vote DOWN the person who addressed the facts.
My my...Avaya really does employee the I'll nformed. I must get away as I'm losing brain cells by the second. It's such a shame. Good engineers treated like cr-p. Yet bimbos on stage talking about nothing somehow keep their jobs. Ridiculous. .
Were you sleeping under a rock the last 6 months? This post is hysterical, if it were not pathetic
I think any issues brought up by the whistleblower will need to be either dismissed as bogus or proven to be fixed. What accounting firm would certify the results without that?
Also, with Sarbanes–Oxley in place the CEO better be certain that the numbers are correct.