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Saturday, March 22, 2008


Although Carl references getting proxy notices in connection with stock options he claims to have received from Verdus, a holder of stock options does not yet own actual stock, and would have no need to give a proxy. Proxies are given by a voting shareholder who cannot attend a shareholder meeting or otherwise participate in a shareholder vote, and authorizes a designee to vote the shares. Perhaps Carl has exercised his stock options and is now an actual shareholder of Verdus. However, that fact by itself would likely not be the source of his knowledge that the Board meets on the third Friday of every month. Shareholders do not participate or vote at meetings of a Board of Directors.

It seems odd that an official letter like an approval to sell stock options would not note the full name of the Chairman of the Board.

Stock Option on LGPEDIA.

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  1. that note about stock options (which i primarily authored and dubbed the driest lgpedia note ever) has been deleted or severly edited twice already. haha. it now says: "When Carl talks about proxy notices in connection with stock options, it is implied that Carl is a current shareholder. Otherwise, it is unclear where his knowledge comes from."

    hehe. of course, the whole video is called "stock options," not "shareholders" or "board members"

  2. From LGPedia:

    "Carl: Well, I don't know. I... (Looks through the papers on the table.) Hey, where did you get the Verdus stuff? (*NOTE: This is a typo on LGPedia, he actually said, "stock") You know they issued this (*NOTE: This should acually say "these") to all their employees. (*NOTE: He is holding the stock at this point)

    Daniel: Oh.

    Carl: I still have some. They always send me these notifications about, uh, proxy voting."

    So you see, if the typos were corrected and it was noted that he is holding stock in his hand as he's delivering this line, this is Carl stating that he HAS VERDUS STOCK. Meaning he's a stockholder.

    And my theory is the kids name these videos themselves so they might not know the difference between stocks and stock options, ya know?

    Just my 2 cents.

  3. jenni, its all your fault!!!!


    its a stock option coverup!!!!

    seriously, though, jenni's explanation is the best one so far. it raises a host of other issues (like that companies do not issue stock to brand new employees for many reasons i won't go into), but i can live with it. i am glad i helped the lgpedia get to the bottom of this important issue.


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