[atrt2] ATRT2 question: When were directors paid?
steve at shinkuro.com
Tue Oct 1 19:29:21 UTC 2013
I probed this point more fully.
The resolution was passed December 8, 2011. It took a while to complete election forms, i.e. whether a director wished to forgo or accept payment, and also to evaluate the tax implications. Payments started at different times for different directors based on the time it took to complete the administrative paperwork, but payments were calculated from the time of the Board's resolution. Thus, even if the first payment was delayed, it included payment for the full period.
In two cases, it took a bit longer than it did for the others, but the extra delay was at the request of the specific director and was related to their personal situation.
In terms of satisfying the ATRT1 recommendation, I believe Dec 8, 2011 is the correct date to use. The delays after that were administrative issues. I can easily understand complaints about the administrative delays, but they are similar in nature to delays related to reimbursement of travel expenses, etc. In the case of payments to directors, the delays surrounding the first payments were a one-time issues and I don't believe they have been or are likely to be a problem with subsequent directors. The system is set up and working.
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