Fact-Finding.org Completes Investigation Into Charles S. Jones Compensation at Geac
Fact-Finding.org Finds Mr. Jones Declined Over C$17.7 Million in Compensation
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 08/21/12 -- Fact-Finding.org, a research organization that assists primarily hedge funds and private equity funds in their critical research, recently completed a thorough investigation on the compensation history of Charles S. Jones, who had previously been Chairman and then Chief Executive Officer of Geac Computer Corporation, Ltd., one of the largest software companies in Canada before it was acquired by Golden Gate Capital in 2006. A summary of the declined compensation by Charles S. Jones is as follows:
Notes:
1. Geac was sold on 3/14/06 for US$11.10 per share, which equates to C$12.88 at prevailing exchange rates.
2. Mr. Nelson received a salary in his capacity as Executive Chairman, while Mr. Jones declined a salary. Mr. Jones was Chairman for 2.7 years, from December 2000 to July 2003. See from the 2001 proxy filing, or see : "Mr. Charles S. Jones has received no compensation other than the retainers referred to above and other than fees for attending board and committee meetings. He has declined other forms of compensation, including salary and any additional retainer for being Chairman customarily paid by the Corporation." Mr. Nelson's salary of $440,910 was listed on page 11 of the 2000 proxy: see or the .
3. Mr. Jones' declining his 40,000 options was disclosed in the Geac 2001 Proxy filing. See from the Proxy, or see : "Mr. Jones declined the 40,000 options offered to him in September 2000."
4. Mr. Jones was offered $690,000 in bonus by the board, but opted to accept only $575,000. See or the entire document at : (Page 9): "The Board of Directors approved a bonus for Mr. Jones for fiscal year 2004 in the amount of $690,000. However, Mr. Jones has opted to accept only $575,000 of that bonus."
5. Mr. Jones was granted 1,229,000 Restricted Stock Units (RSUs) by the board of directors, but opted to take only 300,000. See of the 2005 Geac Proxy filing, or at SEDAR. "While the Human Resources and Compensation Committee unanimously resolved to recommend that the Board of Directors grant 614,500 RSUs to Mr. Jones for the fiscal year ending April 30, 2005 and an additional 614,500 RSUs for the fiscal year ending April 30, 2006 for a total of 1,229,000 RSUs, Mr. Jones indicated that he would not be prepared to accept such a grant. Consequently, Mr. Jones was awarded 300,000 RSUs in respect of the fiscal year ending on April 30, 2005 vesting 20% on November 1, 2005, an additional 30% on November 1, 2006 and the remaining 50% on November 1, 2007."
The following is a history of payments made to Charles S. Jones by Geac for Director Services. Mr. Jones was a director at Geac beginning in 1997.
History of Payments to Charles S. Jones by Geac for Director Services
Fact-Finding is a research organization that assists hedge funds, private equity investors, and strategic acquirers with detailed, fact-based research into their potential and current investments. Fact-Finding is retained to assist with financial, technological, legal and other types of due diligence, and our team spends significant time researching and verifying facts used by our clients to make decisions. For more information about Fact-Finding.org, please visit our website at .
Frank Lentini
Sommerfield Communications
212.255.8386
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Datum: 21.08.2012 - 07:00 Uhr
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