Premier surges as board pay is slashed

• Premier Exhibitions (OTC:PRXI +12.9%) continues a nice move after management gives a hint of listening to disgruntled shareholders, lowering board compensation for non-employee directors to $50K per year - half in cash, half in stock - from $90K in cash previously. Chairman Mark Sellers will not receive any compensation.
• This brings annual board compensation down from $450K in cash to $125K in cash and $125K in stock. "Given the recent decline in the share price, we realize there is a lot more work for us to do. We ask shareholders to remain patient and to stay tuned for more important announcements in the near future."
• The company also announces a total of 387,307 shares repurchased at an average price of $1.3057 (after the big move this week, the stock's back to $1.31).
• Previous: The FQ2 earnings call (transcript) following the collapse of the Titanic sale deal is popcorn-worthy.