Corrupt oil & gas managment?

can the CEO and Chairman of a private oil and gas company issue themselves and other staff over 8 million stock options while they are negotiating a potential takeover for the company? I am a shareholder and feel that this is wrong. also is it normal for the CEO to have his salary paid to a numbered company in his name?


Asked about 6 years ago in Calgary, Alberta
Categories: Business Law

Answer Now

Katherine MacRae

Answer by Katherine MacRae

VerifiedAlberta lawyer

It depends on whether there were option agreements in place that are now being exercised, and as for the numbered company, that too depends on the agreement between the company and the numbered company.

Posted about 6 years ago

Please note that this is for informational purposes only and does not constitute legal advice to you. Legal advice pertaining to your particular situation can only be provided by a lawyer who has met with you to obtain all pertinent background information necessary to give you a formal legal opinion. For formal legal advice, hire a lawyer (many give a free first consultation). Contact Katherine MacRae, or search the Lawyer Directory.


Comment

the options were issued not exercised at the time of the negotiations. also the companies "consulting fees" went from 600k to 3mil from 2012-2013. when asked for a list of companies that our company is paying the CEO responded "its none of our business" the shareholders believe that the CEO and chairman is paying themselves "consulting fees" to hide what they are actually making.

Posted about 6 years ago

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