Aug. 16 at 10:56 PM
$JOB Management realizes holding out on their ~
$8 million Change-in-Control (CIC) severance package is legally and practically unviable:
Thorpe made a point to clarify on the call that the strategic review and M&A process "is being driven almost entirely by the independent board members, including the largest shareholder."
By publicly stepping back and framing the process as independent-led, management is signaling that they are no longer in a position to dictate terms or hold out for full executive payouts. Independent directors answering to institutional value funds will not permit a ~
$8M executive package to sink a deal.
You cannot maximize per-share net payout to common shareholders while burning 30%+ of the total deal value on executive severance. Adopting a strict "per-share value impact" framework mathematically forces a reduction in CIC payouts to make the transaction economics work.
A deal is coming.
