It appears I must further elaborate.
First, perhaps you missed this closing paragraph:
"However, if the BoD were performing the customary role, I would whole-heartedly support this refinement of compensation policy."
In the paragraphs above that, I was saying that this is not the current situation - at least it wouldn't be the situation for me if I were brought on board, because I would do more toward assuring shareholder interests were protected. The base compensation is $3K/month. If I'm working only twenty hours a week, I will have more than earned it.
Also, with regard to my other comment about how to cause change - if you propose change that impacts others and they recognize there is no impact on you, all I can say is rotsa ruk. I speak from experience. You will get nowhere. However, if you suffer the same loss, your chances to persuade are greatly enhanced.
Now I'll go a few steps further.
Assume an options-only compensation policy, and assume those options had a strike price consistent with the prevailing PPS at the time they were placed in the package. What I would do is set aside (perhaps in an escrow account assigned for the purpose) the monies necessary to exercise those options up front. Thus, I would place myself in a position similar to a retail shareholder that bought stock that day. The only difference being I would remove the opportunity to trade those shares as could a retail buyer. Having done this, I would encourage other BoD members to do likewise. Intentionally place yourself in the stance of the retail shareholders you represent.
Next, as I've posted about several times in the past, why options at all? What I'm getting at is that IF PTSC were to divest PDSG (though that now doesn't look like that is going to happen) and the only revenue source was the MMP, what would a board member be doing to EARN those options? Further, assuming PDSG remains, the options should be directly tied to the performance of PDSG and PDSG only - the thing over which the BoD at least has influence.
I hope this clarification improves your attitude.
SGE
