Seeking Alpha

New chief gets a sweet deal at Advanced Cell Tech

  • Advanced Cell Technology (ACTC +1.2%) hires Paul Wotton, Ph.D., as its President & CEO effective July 21. He joins the company from Antares Pharma where he was also Chief Executive.
  • Dr. Wotton will earn a base salary of $575,000 plus a cash incentive bonus of up to $316,250. In additional he will receive options to purchase 30M shares of common stock, stock unit awards equaling 30M shares of common stock and $50,000 for relocation expenses.
  • If his employment is terminated without cause or if he quits for good reason, he will receive a lump sum payment equal to his base salary plus unpaid expenses and vacation. If he signs a release of all claims against the company, he will be eligible for an additional lump sum payment equal to a year's salary plus unpaid incentive compensation plus 12 months or COBRA payments plus accelerated vesting of any unvested equity awards that are scheduled to vest within one year of his termination.
  • If he is terminated without cause or he quits for good reason within 12 months after a change in control, he will receive a lump sum payment equal to two years' base salary plus unpaid incentive comp plus COBRA plus accelerated vesting of 100% of all outstanding equity incentive awards (contingent on a claims release).
Comments (15)
  • davea0828
    , contributor
    Comments (8) | Send Message
     
    I am very excited to see Paul join as President and CEO. This may be the start of a lot of huge news as I cannot see anyone switching from a Nasdaq listed company and going to a company on the OTC board unless great things were about to happen!!!

     

    Very exciting times are coming!!!

     

    Dave
    24 Jun 2014, 10:34 AM Reply Like
  • DWD Investing
    , contributor
    Comments (10114) | Send Message
     
    Dave,

     

    Please, more !!!!!!!!!!!!!!!!!!!!!!...
    24 Jun 2014, 01:36 PM Reply Like
  • rockyron
    , contributor
    Comments (148) | Send Message
     
    WELL ; Ain't it strange , Old Rockyron was and is a pretty good prophet on that ACTC call that Lanza and Co. had things well in hand . Alright all you doomsayers and weak of heart , Time to jump back in . Hurry , the stock is moving higher fast......R.R.
    24 Jun 2014, 10:35 AM Reply Like
  • Esekla
    , contributor
    Comments (3726) | Send Message
     
    As commented in my article, while this is a mild positive, its hardly proof that the company "has things well in hand". It does mean a little more than assurances on a conference call, though.
    24 Jun 2014, 10:44 AM Reply Like
  • DWD Investing
    , contributor
    Comments (10114) | Send Message
     
    Esek,

     

    For some, it means the stock is going to 8 dollars soon [or enter your own wishful thinking].

     

    Contrary to that thinking, I've been in positions where the company was "well in hand" with government grant money in the 100 million dollar range, and watched it post positive 10Qs only to file BK half way through a super QQ announcement--and a new well connected CEO.

     

    Currently, the publication is a necessary condition of ACTC's future, but not a sufficient condition.

     

    And for the record, this is a positive catalyst.
    24 Jun 2014, 01:41 PM Reply Like
  • rockyron
    , contributor
    Comments (148) | Send Message
     
    Good morning DW and ESK ; Now come on , we all know that the increase in stock values come from enthusiasm . Nobody wants to be left down in the basement when a stock takes a great leap upwards . I'm just saying that the mob is becoming enthused , not over the DRY facts that you guys talk about , although those facts are very important , Truly the mob mentality is about to take over , not to say the Co. can't go bankrupt in the future , but the mob is beginning to rule and in ACTC case the mob is world wide . Just morning musings from R.R.
    25 Jun 2014, 08:59 AM Reply Like
  • DWD Investing
    , contributor
    Comments (10114) | Send Message
     
    "we all know that the increase in stock values come from enthusiasm "

     

    No "we" don't.

     

    "Truly the mob mentality is about to take over"

     

    Please define the results of this "mob" of which you speak "truely" and when we can expect those "mob" results, because right now I'm seeing exactly what I thought I would see--after news drop off.
    25 Jun 2014, 11:10 AM Reply Like
  • Mking30
    , contributor
    Comments (141) | Send Message
     
    Rockyron is pumped on a new ceo,give him a break, tho its guna take great results in the trials to get any group intrigued.
    25 Jun 2014, 12:22 PM Reply Like
  • DWD Investing
    , contributor
    Comments (10114) | Send Message
     
    I think what he means is irrational exuberance will create a momentum move, but I'm just not seeing that. It all depends on what he means, and for sure, you could call today irrational exuberance since after the CEO announcement the equity is up approximately 25% in two days. But, it's still .07 cents. And that means it's still well within it's 52 week range.

     

    Call me when it either hits the .05s again or $1.00+ before anymore news is released.
    25 Jun 2014, 03:53 PM Reply Like
  • igorzak
    , contributor
    Comments (18) | Send Message
     
    He is getting paid way too much. I want to see some results...we have been waiting for a long time. I have been a believer since day one. But, this is just another example of how the privilege few get enriched, while we the "investors" really have not received any payback.
    26 Jun 2014, 10:04 AM Reply Like
  • DWD Investing
    , contributor
    Comments (10114) | Send Message
     
    ig

     

    I think perhaps some of your anxiety is a result of your investing sophistication, and I do not mean that pejoratively.

     

    Believing and wishing do not mean you are entitled to information, nor that you will get "payback." That's not how equity investing works.

     

    If you want information when you want it, payback for believing, and more stability, buy muni bonds or index funds managed by professional brokers, such as T Rowe or Vanguard.

     

    The company operates on it's own vision, and if you don't like it, you can always take profit, or cut losses, and take your capital elsewhere--that's your entitlement when positioning equity.

     

    Paid too much? That's a great thing, because broke companies don't get 2M per year CEO's to come to them unless something is brewing.
    26 Jun 2014, 02:31 PM Reply Like
  • rockyron
    , contributor
    Comments (148) | Send Message
     
    Well Goooleeee ; I didn't know I was going to upset anybody's applecart with my musings . THANKS to Mking30 for the support . All I have to say is this new CEO can just about do or say anything even break wind and he will effect the stock price . Now , not to say it won't fluctuate up and down with the law of supply and demand . I am believing that the next big stock price move will be on the announcement of new funding . I think this will come sooner rather than later . The next move that will effect the stock will be the uplisting to NASDAQ , when that will happen is anybody's guess . These boys running this show at ACTC are going to release information at their pace , not ours . In my opinion the super stock price move will be any hint of a breakthrough in the medical field....My thoughts on the matter , no more musings DW......R.R.
    27 Jun 2014, 01:47 PM Reply Like
  • DWD Investing
    , contributor
    Comments (10114) | Send Message
     
    RR

     

    "I am believing that the next big stock price move will be on the announcement of new funding "

     

    That and the publication, but I think the publication will be much more material than funding, and even dependent on the publication information.
    27 Jun 2014, 02:16 PM Reply Like
  • candooman
    , contributor
    Comments (345) | Send Message
     
    Experienced CEOs always release good news first ('the publication') then, when stock price goes up and plateaus a few days later, he follows up with raising funding. However, he could implement a reverse split (has this been approved by the shareholders?) before or after raising funds -- depending on the markets' reaction to the publication. PW has been faced with this decision before so hopefully, he makes the right decision...... the reason for hiring him instead or another guy. I know this is "spilt milk" but this is the area of Gary Rabin's expertise. Too bad he shot himself in the foot.
    27 Jun 2014, 06:01 PM Reply Like
  • DWD Investing
    , contributor
    Comments (10114) | Send Message
     
    can

     

    They have to release a a statement telling us when and what the reverse will be. I think it's an SEC release. They already have share holder ok for it.

     

    This entire thing is based on 'the publication.' The publication will found the next round of financing in some manner, and allow an uplisting. I just want the price to go up as much as it can on its own before the reverse.
    28 Jun 2014, 06:25 PM Reply Like
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