Kopin Corp. (KOPN) Message Board

Sponsor

To: Mao II who wrote (1763)	3/10/2007 2:15:59 PM
From: kinkblot	Read Replies (1) of 1789

options backdating scorecard from Bloomberg.com (data as of 3/2/07) bloomberg.com Wrt the review of past stock option practices by officers of Kopin, Fan is not behaving as if he expects an adverse finding by the special committee. It's well known that Kopin's Board has always been in Fan's back pocket, and they appointed this committee - but I'll assume that the committee is indeed independent. Kopin has consistently granted a basket of options in mid-December, so my guess is that the review is a cover-your-ass response to the lawsuit and that the plaintiffs have not discovered any broad pattern of statistical anomalies. I haven't seen the details of the lawsuit; it relates to "certain stock option grants issued by the company between 1996 and 2001." Fan and his pals didn't need to do anything shady; they were able to fleece the shareholders in broad daylight, and until the recent lawsuit, no shareholders ever raised a stink about it. And, without skipping a beat, Kopin has already adopted a new method for officer enrichment (Dec 2005, Dec 2006): forget options; award common shares at $0 per share. Make it restricted stock that vests over four years so it doesn't look quite so blatant. The date of award is now irrelevant, except in setting the anniversary date and thereby affecting tax liability at vesting. sec.gov sec.gov sec.gov sec.gov sec.gov sec.gov WT