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To: slacker711 who wrote (25898)4/22/2021 9:36:24 PM
From: ynotgoal  Read Replies (3) | Respond to of 26577
 
Overall, I don't have a clue.

Me either. It should make for an interesting conference call in 2 weeks and annual shareholder meeting on June 17. It's unlikely but the only thing that comes to mind specifically for Visionox is they never said the length of their contract so I guess its possible it was a 3 year deal. Seems unlikely given the timing with LG.

UDC also put out an SEC filing for the ASM tonight which they normally do at this time. This next is just wild observations looking for dots to connect for some clue. The one thing in the filing is they renamed the "Compensation Committee" to the "Human Capital Committee". Changing the name is generally not newsworthy but also odd. The stated reason is "to emphasize that this committee’s focus is broader than simply compensation". Yet each of the stated duties is to determine executive compensation. They also added a third member to this Human Capital Committee, Keith Hartley, 77, who is on the board. He background is in the capital markets.

This has likely always been there but one of the duties is "10. Review and approve the compensation package for any newly elected CEO." Just to note Steve Abramson is 69 and Sid Rosenblatt is 73. UDC might want to re-up contracts if they are expecting to look for a new CEO or a buyout and a Human Capital Committee would seem like the place to evaluate a potential new CEO. Steve and Sid would receive over $70 million apiece in a buyout scenario.

None of those give a reason for LG and Visionox to want to extend the contracts early though. I'm not sure a UDC technology like blue does that either but it could be. It will be interesting to hear the real reasons soon.