D
Deleted member 118
Guest
I think it was mentioned in the annual general meeting notice recently, but I could be wrong.
BRN Discussion Ongoing
- Thread starter TechGirl
- Start date
DingoBorat
Slim
Thanks for answering one of my questions Schnitzel Lover
Dr E Brown
Regular
Sean basically read verbatim the BRN notice on this subject from 2022I just relistened to that part several times and it's not really clear to me..
"would have benefited the Company, by avoiding a large options exercise (I thought that usually benefits the Company?) and sale of shares, required to meet tax obligations, associated with that exercise"
So was the benefit to the Company, from Mr Hernandez not needing to sell converted options, to cover his tax obligations, at a time when this sale, would have put pressure on the share price, when the Company needed to raise funds?
Won't Mr Hernandez, need to do the same now (if that was the issue) at a time when the share price is already depressed?
Only thing different, is that the Company does not now need to raise funds.
If the pressure on the share price at the time was the issue, then the benefit to the Company at that time, might be hard to quantify and could be worth any extra benefit to Mr Hernandez now.
Xhosa12345
Regular
As for brn.... the gif above
But we will get there... my timelines are blown out from what i was expecting and hoping
Manny Hernandez served as Chairperson as did the previous Chair, including Lou (Chief 3 Hats) each brought their own style and
networks of friends, business associates to the table.
A lot of water has since gone under the bridge, the company addressed a lot of the issues with regards the issuing of shares, salaries,
staff layoffs, rewarding performance that had met the strict standards set by the Board, as soon as Lou departed, Peter stood up as
our original founder and took charge, he did a great job, with the help of highly intelligent, business minded staff he had also helped
to hire. Some of the criticisms I have heard are based on fluff, his work on Akida 2.0 was never put on hold or jeopardized because of the responsibilities he took on as acting CEO, he stood up which was a real sign of strength, worked very long hours because of a combination
of self-discipline and in knowing the job had to be done. I have always backed his determination to "never give up".
We have now the strongest team ever assembled to be working on revolutionary, ground-breaking technology, from my understanding
it's a very tight knit global work force, one that we as shareholders should be proud to be associated with.
Tall Poppy syndrome, a company that dares to be different, or how could a neuroscientist in little old Australia be that innovative, have
such a vision, be so creative, surely Australia doesn't house any geniuses, well we do, just watch this space.
We as a company, that's us and the entire staff, run a tight, no nonsense company, we've tightened our belts a number of years ago,
hired the best staff available and are making forward steps, even into the current headwind/s.
4 weeks till the AGM 7 weeks to the next Quarterly Investors Podcast, plus other exciting presentations along the way, try to just take a
step back, breathe and smell the roses for a change.
Have a good rest of the week, cheers.....Tech
networks of friends, business associates to the table.
A lot of water has since gone under the bridge, the company addressed a lot of the issues with regards the issuing of shares, salaries,
staff layoffs, rewarding performance that had met the strict standards set by the Board, as soon as Lou departed, Peter stood up as
our original founder and took charge, he did a great job, with the help of highly intelligent, business minded staff he had also helped
to hire. Some of the criticisms I have heard are based on fluff, his work on Akida 2.0 was never put on hold or jeopardized because of the responsibilities he took on as acting CEO, he stood up which was a real sign of strength, worked very long hours because of a combination
of self-discipline and in knowing the job had to be done. I have always backed his determination to "never give up".
We have now the strongest team ever assembled to be working on revolutionary, ground-breaking technology, from my understanding
it's a very tight knit global work force, one that we as shareholders should be proud to be associated with.
Tall Poppy syndrome, a company that dares to be different, or how could a neuroscientist in little old Australia be that innovative, have
such a vision, be so creative, surely Australia doesn't house any geniuses, well we do, just watch this space.
We as a company, that's us and the entire staff, run a tight, no nonsense company, we've tightened our belts a number of years ago,
hired the best staff available and are making forward steps, even into the current headwind/s.
4 weeks till the AGM 7 weeks to the next Quarterly Investors Podcast, plus other exciting presentations along the way, try to just take a
step back, breathe and smell the roses for a change.
Have a good rest of the week, cheers.....Tech
Getupthere
Regular
Remuneration
Sean Hehir currently receives USD450,000 per annum for his position as Chief Executive Officer. The amount stated is per annum comprising salary plus superannuation contributions, short term incentive payments (cash) and medical benefits. Mr Hehir is eligible to receive a Short-Term Incentive (“STI”) of up to 100% of the aforementioned salary annually. The Restricted Stock Units proposed to be issued to Mr Hehir under Resolution 7(a), if passed, are in addition to this sum and have an estimated fair value of A$985,054 (being A$328,351 per annum).
Sean Hehir currently receives USD450,000 per annum for his position as Chief Executive Officer. The amount stated is per annum comprising salary plus superannuation contributions, short term incentive payments (cash) and medical benefits. Mr Hehir is eligible to receive a Short-Term Incentive (“STI”) of up to 100% of the aforementioned salary annually. The Restricted Stock Units proposed to be issued to Mr Hehir under Resolution 7(a), if passed, are in addition to this sum and have an estimated fair value of A$985,054 (being A$328,351 per annum).
Getupthere
Regular
As announced to ASX on 13 October 2022, the Company has entered into an agreement to issue 8,000,000 Restricted Stock Units to Mr Emmanuel Hernandez, a previous Non- Executive Director and Chair of the Company, following his resignation and the lapse of options previously granted to him by the Company on 7 July 2017, subject to receipt of the approval of Shareholders at this Annual General Meeting. The Restricted Stock Units are to be issued in accordance with the terms of the Equity Incentive Plan the general terms of which are contained at Appendix A, with the additional specific terms outlined below.
The Options granted to Mr Hernandez lapsed on 1 March 2022, following his resignation from the Company.
Mr Hernandez expressed interest in reaching an agreement with the Company to avoid exercising his Options at the same time and instead to continue holding the Options beyond his resignation date up to expiration. The Company agreed to work with Mr Hernandez to find an alternative to exercising the Options as this was considered to be in the best interest of the Company and Shareholders. In so doing, the parties entered into discussions relating to deferring the exercise of the Options. However, at the time of his resignation, it was determined that the Company could not modify the terms of the Options without shareholder approval or a waiver from ASX in relation to Listing Rule approval requirements for any such modification. During the time required to investigate the proper method of modifying the Options and negotiating the terms with Mr Hernandez, the Options ultimately lapsed. As this occurred whilst Mr Hernandez was engaging with the Company on the process for exercise, the Company considers it appropriate to award Mr Hernandez with the new RSUs.
The Options granted to Mr Hernandez lapsed on 1 March 2022, following his resignation from the Company.
Mr Hernandez expressed interest in reaching an agreement with the Company to avoid exercising his Options at the same time and instead to continue holding the Options beyond his resignation date up to expiration. The Company agreed to work with Mr Hernandez to find an alternative to exercising the Options as this was considered to be in the best interest of the Company and Shareholders. In so doing, the parties entered into discussions relating to deferring the exercise of the Options. However, at the time of his resignation, it was determined that the Company could not modify the terms of the Options without shareholder approval or a waiver from ASX in relation to Listing Rule approval requirements for any such modification. During the time required to investigate the proper method of modifying the Options and negotiating the terms with Mr Hernandez, the Options ultimately lapsed. As this occurred whilst Mr Hernandez was engaging with the Company on the process for exercise, the Company considers it appropriate to award Mr Hernandez with the new RSUs.
HopalongPetrovski
I'm Spartacus!
Quite likely that is what had been vetted by legal and the board and he is being careful.
I don't blame him.
Who needs a shitestorm a month out from the AGM?
Undoubtedly the board has taken advise on this matter and decided on what they consider to be the best course of action.
Regardless of the opinions of all the amateur Perry Mason's here, they are just trying to get on with their job of making us all filthy rich, rather than getting sidelined by some irrelevant waste of their time and Company resources.
Space Cadet
Regular
Sorry didn't get back to you sooner. Been at local club where doubles for RSL and volunteer every year helping out. Good thing is you get ro have a few and work as well.
Anyway little pickled but ok with what you say but none of us are privy to negotiations and where company heading. We get pissed but we either back company or we don't. Getting near pointy end now but imo if we don't have some serious shit happening this time next year then Housten we have a problem. Once we get the first couple bringing in revenue it will only get better from there.
SC
Schnitzel lover
Regular
I say good luck to him if he can spend 5 & 1/2years as a director and not spend a cent to buy a single share in the company, nor exercise any options, yet be awarded 8million shares as a retired director.. Well played Manny
GingerRogers
Emerged
It was so obvious that he was reading that part rather than actually talking freely to the question.
DingoBorat
Slim
So from the AGM explanatory notes..I just relistened to that part several times and it's not really clear to me
"would have benefited the Company, by avoiding a large options exercise (I thought that usually benefits the Company?) and sale of shares, required to meet tax obligations, associated with that exercise"
So was the benefit to the Company, from Mr Hernandez not needing to sell converted options, to cover his tax obligations, at a time when this sale, would have put pressure on the share price, when the Company needed to raise funds?
Won't Mr Hernandez, need to do the same now (if that was the issue) at a time when the share price is already depressed?
Only thing different, is that the Company does not now need to raise funds.
If the pressure on the share price at the time was the issue, then the benefit to the Company at that time, might be hard to quantify and could be worth any extra benefit to Mr Hernandez now.
"The Company agreed to work with Mr Hernandez to find an alternative to exercising the Options as this was considered to be in the best interest of the Company and Shareholders"
How was the Company, not receiving a cool million dollars (12.5 cent exercise price) in its or our best interests?
Because of the shares MH would have to sell to cover his tax, resulting in pressure on the share price?
Now we don't get the million and the RSUs become full shares, within a month of granting, with the same tax obligations to MH, but now with a pressured share price?
What am I missing here?
..Im with ya, she's shut up shop and put the lollies away
DingoBorat
Slim
Could it be that MH simply didn't have a million dollars to exercise the options at the time?So from the AGM explanatory notes..
"The Company agreed to work with Mr Hernandez to find an alternative to exercising the Options as this was considered to be in the best interest of the Company and Shareholders"
How was the Company, not receiving a cool million dollars (12.5 cent exercise price) in its or our best interests?
Because of the shares MH would have to sell to cover his tax, resulting in pressure on the share price?
Now we don't get the million and the RSUs become full shares, within a month of granting, with the same tax obligations to MH, but now with a pressured share price?
What am I missing here?
My understanding is that, leaving before the expiry date, he would have had to exercise them straight away.
Did the conversation go something like..
"Cmon guys, I don't have a mil' on me right now, can we keep the expiry date?"..
Kind of convenient, that now he doesn't even have to come up with that at all..
I seem to remember, there were some particular circumstances, surrounding his departure.
Does anyone remember these?
Maybe @Schnitzel lover remembers reading the particular announcement?
I'm happy to be pulled up on anything I'm saying, in trying to work out the circumstances here..
Last edited:
Stable Genius
Regular
#mercedesbenz #eclass | Mercedes-Benz AG | 238 comments
Digital World Premiere of the new Mercedes-Benz E-Class The new Mercedes-Benz E-Class evolves with you. The business icon is leading the way for a new digital… | 238 comments on LinkedIn
Exciting Times!
The Pope
Regular
View attachment 35022
#mercedesbenz #eclass | Mercedes-Benz AG | 238 comments
Digital World Premiere of the new Mercedes-Benz E-Class The new Mercedes-Benz E-Class evolves with you. The business icon is leading the way for a new digital… | 238 comments on LinkedInwww.linkedin.com
Exciting Times!
Scrolled through the like, love reactions via LinkedIn and I didn’t notice any BRN staff like RT etc adding a reaction.
Doesn’t mean it is a No linked to BRN as per your highlighted section with MBUX. Fingers crossed it’s positive
Stable Genius
Regular
Not sure how we fit; if at all here. You would hope given MB connection we will be the brains of Luminars LiDAR but no guarantee at this time. Interesting time to be engaging China market also.
Add Comment
US lidar firm Luminar, the Nasdaq-listed Florida start-up, is making a push into China as the world’s largest auto market races to put automated and autonomous driving vehicles on the road.
From TechCrunch by Rita Liao.
By 2028, more than 1 million Luminar-equipped cars will be on the road in China, Luminar’s founder and CEO Austin Russell said this week at Auto Shanghai, one of the world’s largest auto trade fairs. All of the cars will have advanced safety capabilities from the start and come equipped with the capabilities to unlock higher levels of autonomy over time, a company spokesperson told TechCrunch via email.
It’s refreshing to see foreign investment continue to flow into the auto sector between the two superpowers despite their escalating standoffs over issues like national security. After all, it’s hard to overlook China’s enormous car market.
With its 500 million drivers, China is a coveted place for foreign automakers and suppliers. Much of Tesla’s meteoric rise has been credited to its success in China, which now accounts for more than half of its deliveries and has become a major manufacturing hub for the EV behemoth.
People in China are also willing to pay for smarter cars. Sixty percent of the Chinese consumers surveyed by McKinsey & Company in 2021 said they were likely to buy a Level 4 advanced highway pilot for less than $10,000, compared to 57% in the U.S. and only 36% in Germany. It’s no surprise, then, to see Chinese carmakers, from state-owned giants to startups, rushing to integrate automated driving features, which still require hands on the wheels, into their vehicles as a selling point.
Luminar is catching the wave of welcoming consumers in China. To do so, it’s teamed up with Taiwan’s TPK, a key touch-screen supplier to Apple and Tesla, to “build and operate an additional high-volume factory driven by rapidly growing demand for Luminar in Asia,” the company announced at Auto Shanghai. This adds to its existing manufacturing bases across the U.S., Thailand, Mexico and China.
At the initial stage, the new TPK facility, which will be in Xiamen of China’s southeast Fujian Province, is expected to produce up to 600,000 lidar sensors annually to serve clients such as Mercedes-Benz, which just signed a “multibillion-dollar” deal to use Luminar lidars in its next-gen vehicles.
For the complete article on US lidar firm Luminar CLICK HERE.
Note – If you liked this post click here to stay informed of all of the 3D laser scanning, geomatics, UAS, autonomous vehicle, Lidar News and more. If you have an informative 3D video that you would like us to promote, please forward to editor@lidarnews.com and if you would like to join the Younger Geospatial Professional movement click here
blog.lidarnews.com
US Lidar Firm Will Pursue China AV Market
April 21, 2023Add Comment
US lidar firm Luminar, the Nasdaq-listed Florida start-up, is making a push into China as the world’s largest auto market races to put automated and autonomous driving vehicles on the road.
From TechCrunch by Rita Liao.
By 2028, more than 1 million Luminar-equipped cars will be on the road in China, Luminar’s founder and CEO Austin Russell said this week at Auto Shanghai, one of the world’s largest auto trade fairs. All of the cars will have advanced safety capabilities from the start and come equipped with the capabilities to unlock higher levels of autonomy over time, a company spokesperson told TechCrunch via email.
It’s refreshing to see foreign investment continue to flow into the auto sector between the two superpowers despite their escalating standoffs over issues like national security. After all, it’s hard to overlook China’s enormous car market.
With its 500 million drivers, China is a coveted place for foreign automakers and suppliers. Much of Tesla’s meteoric rise has been credited to its success in China, which now accounts for more than half of its deliveries and has become a major manufacturing hub for the EV behemoth.
People in China are also willing to pay for smarter cars. Sixty percent of the Chinese consumers surveyed by McKinsey & Company in 2021 said they were likely to buy a Level 4 advanced highway pilot for less than $10,000, compared to 57% in the U.S. and only 36% in Germany. It’s no surprise, then, to see Chinese carmakers, from state-owned giants to startups, rushing to integrate automated driving features, which still require hands on the wheels, into their vehicles as a selling point.
Luminar is catching the wave of welcoming consumers in China. To do so, it’s teamed up with Taiwan’s TPK, a key touch-screen supplier to Apple and Tesla, to “build and operate an additional high-volume factory driven by rapidly growing demand for Luminar in Asia,” the company announced at Auto Shanghai. This adds to its existing manufacturing bases across the U.S., Thailand, Mexico and China.
At the initial stage, the new TPK facility, which will be in Xiamen of China’s southeast Fujian Province, is expected to produce up to 600,000 lidar sensors annually to serve clients such as Mercedes-Benz, which just signed a “multibillion-dollar” deal to use Luminar lidars in its next-gen vehicles.
For the complete article on US lidar firm Luminar CLICK HERE.
Note – If you liked this post click here to stay informed of all of the 3D laser scanning, geomatics, UAS, autonomous vehicle, Lidar News and more. If you have an informative 3D video that you would like us to promote, please forward to editor@lidarnews.com and if you would like to join the Younger Geospatial Professional movement click here
US Lidar Firm Will Pursue China AV Market | In the Scan
US lidar firm Luminar is making a push into China as the world’s largest auto market races to put autonomous driving vehicles on the road.
blog.lidarnews.com
Tothemoon24
Top 20
Arpan Pal on LinkedIn: Total five papers accepted from our group in this year IJCNN… | 18 comments
Total five papers accepted from our group in this year IJCNN (collaborators include IIT Kharagpur, IIT Delhi, Brainchip) - Vision for Retail – Gaurab… | 18 comments on LinkedIn
Total five papers accepted from our group in this year IJCNN (collaborators include IIT Kharagpur, IIT Delhi, Brainchip) -
Vision for Retail –
Gaurab Bhattacharya, Gaurav Sharma, Kuruvilla Abraham, Nikhil Kilari, Jayavardhana Gubbi, Bagya lakshmi V, Balamuralidhar P. and Arpan Pal, "SwatchNet: Small Components Aware Attention for Fashion Product Recoloring".
Vivek B S, Gaurab Bhattacharya, Jayavardhana Gubbi, Bagya lakshmi V., Arpan Pal, and Balamuralidhar P., "Personalized Outfit Compatibility Prediction Using Outfit Graph Network"
Neuromorphic for Spacetech –
Chetan Kadway, Sounak Dey, Arijit Mukherjee, Arpan Pal, Gilles Bezard, “Low Power & Low Latency Cloud Cover Detection in Small Satellites Using On-Board Neuromorphic Processors”
Sayan Kahali, Sounak Dey, Chetan Kadway, Arijit Mukherjee, Arpan Pal, Manan Suri, “Low-Power Lossless Image Compression on Small Satellite Edge Using Spiking Neural Network”
Edge Computing -
Swarnava Dey, Pallab Dasgupta and Partha Pratim Chakrabarti, “DietCNN: Multiplication-Free Inference for Quantized CNNs”
Tata Consultancy Services - Research
Balamuralidhar P, Jayavardhana Gubbi, Gaurab Bhattacharya, Vivek B S, Chetan Kadway, Sounak Dey, Arijit Mukherjee, Sayan Kahali, Manan Suri, Swarnava Dey
Violin1
Regular
Because they are working on the company. They are NOT FREE. Sure, we'd all like some re-assurance and patting on the back to say "it's all ok" - but fact is the company isn't going to keep putting out notices that they cannot guarantee. You either have faith in the Board that was elected or you get a whippy stick and head for the fowl yard....
Hi TTM24,Arpan Pal on LinkedIn: Total five papers accepted from our group in this year IJCNN… | 18 comments
Total five papers accepted from our group in this year IJCNN (collaborators include IIT Kharagpur, IIT Delhi, Brainchip) - Vision for Retail – Gaurab… | 18 comments on LinkedIn
Total five papers accepted from our group in this year IJCNN (collaborators include IIT Kharagpur, IIT Delhi, Brainchip) -
Vision for Retail –
Gaurab Bhattacharya, Gaurav Sharma, Kuruvilla Abraham, Nikhil Kilari, Jayavardhana Gubbi, Bagya lakshmi V, Balamuralidhar P. and Arpan Pal, "SwatchNet: Small Components Aware Attention for Fashion Product Recoloring".
Vivek B S, Gaurab Bhattacharya, Jayavardhana Gubbi, Bagya lakshmi V., Arpan Pal, and Balamuralidhar P., "Personalized Outfit Compatibility Prediction Using Outfit Graph Network"
Neuromorphic for Spacetech –
Chetan Kadway, Sounak Dey, Arijit Mukherjee, Arpan Pal, Gilles Bezard, “Low Power & Low Latency Cloud Cover Detection in Small Satellites Using On-Board Neuromorphic Processors”
Sayan Kahali, Sounak Dey, Chetan Kadway, Arijit Mukherjee, Arpan Pal, Manan Suri, “Low-Power Lossless Image Compression on Small Satellite Edge Using Spiking Neural Network”
Edge Computing -
Swarnava Dey, Pallab Dasgupta and Partha Pratim Chakrabarti, “DietCNN: Multiplication-Free Inference for Quantized CNNs”
Tata Consultancy Services - Research
Balamuralidhar P, Jayavardhana Gubbi, Gaurab Bhattacharya, Vivek B S, Chetan Kadway, Sounak Dey, Arijit Mukherjee, Sayan Kahali, Manan Suri, Swarnava Dey
What does that mean to Brainchip?
Similar threads
