View attachment 80993
BrainChip 2025 AGM.
My thoughts and concerns.
And what I believe, is the
best way to send a message.
Excerpts, are from AGM notice and proposed Director letter.
Resolution 2
Re-election Geoffrey Carrick as Director? (Shaw and Partners connection).
I don't know much about this guy, but my Dingo senses, smell something "off" with him.
I don't like that he is our connection with Shaw and Partners and "believe" he is also possibly our "connection" with the shorters (just my gut feel).
Resolution 5
Sean 7.5 million RSUs
"Mr Hehir is eligible to receive a
Short-Term Incentive (“STI”) of up to 100% of the aforementioned salary annually"
(eligible, Not
"entitled")
"If this Resolution is not approved, the Company will not be able to issue the Restricted Stock Units to Mr Hehir and the Company will need(?)
to consider alternate means of compensation for Mr Hehir"
I don't see why Sean not getting these RSUs is a problem, as he is "eligible" for "up to" 100% of his salary,
not entitled.
0% is still "up to" 100%.
Where is the "need" to further compensate Sean?
This is not what the agreement states, when it says "up to 100%" the way I see it (and I think that would be the Legal contractual interpretation).
"While the word eligible is defined as “qualified to participate or be chosen”, entitled means “having a right to certain benefits or privileges”"
I'm not into bagging Sean and think he's working as hard as he can and harder, but do I think he should be "rewarded" with
100% of his salary in RSUs, for the Company's commercial progress and share price performance?
No.
Resolution 6
Elect Steven Liebeskind as Director?
"Mr Liebeskind has been closely associated with BrainChip Holdings Ltd since its inception. In 2004, he collaborated with Mr van der Made in founding the private company that would
ultimately evolve into BrainChip’s ASX-listed entity"
"From 2016 to 2017, Mr Liebeskind was invited by the BrainChip Board to act as a strategic advisor, assisting or driving key operational initiatives. On 1 May 2018, Mr Liebeskind was formally appointed as a Non-Executive Director of BrainChip Holdings Ltd, where he became Chair of the Audit & Governance Committee (effective 1 April 2019). Chair of the Remuneration & Nomination Committee (effective 1 January 2020)"
They say we already have enough Directors?
Well if we get rid of "Geoff" I believe that opens a spot.
I would genuinely like to know, what Peter thinks (privately) of his election, as he (Steve) was involved from the beginning and obviously knows the Company well and I "believe" he has the Company's best interests at heart.
I'd also like to know, the reasons "why" the board seems so dead against him, with the history he has with the Company?..