Apache announces Suriname...and saves millions in the process

It is extremely coincidental that the company announced this discovery less than a week after phantom unit distribution (which act like a cash distribution for the company) for employees, even though they've known about the oil discovery for months. Even more conincidental since the executives get compensated with regular stocks instead of phantom units.

Well it was a savvy business move if they did it on purpose (though a real kick in the gut). Or if it was done on accident, then they're a clueless management team with no hande on how their actions appear to their employees

Comment! It's anonymous!

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Yea that's a lie.

Mine says

"Transaction Date: jan-06-2020"

"Grant date Jan-03-2019"

"Fair market value at distribution of XXXXX units at $25.69"

they screwed each and and every employee out of 27% of that equity.

Look at all these people complaining, when the phantom units vested at the high for today.

Quit being so negative and appreciate the good news for once.

There was a posting about this by another user under "Anticipated Drop" last month ?? Strange.....this guy should get a bonus.........https://www.thelayoff.com/t/12l0aZPX

Preach, brother, preach.

The timing of the announcement isn’t even suspicious. It is criminal.

And although it is good that oil was found, the simple fact that the announcement’s timing resulted in the employees losing out on thousands of dollars is shameful.

Particularly when it is because of those employees upon whose years of hard work the company even had the chance and resources to explore for oil in Suriname or anywhere else in the world.

The executives think that they are responsible for the company’s success (note that they have already awarded themselves stock grants on January 3rd, the amount of which is based on the lower stock price of the past few weeks) and sneer at the worker bees’ efforts and expectations for compensation. Shortchanging them on the stock vesting with this announcement is proof enough of that.

But what is even worse than all of that, even worse than this flagrant f-you to the employees, and even worse than the sheer kick in the gut and demoralization that the executives have given out, is the fact that the CEOs job will now likely be saved by this discovery.

It is all criminal, I tell you.

R u serious. I Thought timing was a bummer but didnt even occur to me that suits got paid differently. How do we know that. consider me gob-smacked.

I think OP meant "distribution" from previous stock grants, not from any new grants.

Phantom units have not been distributed yet.

The federal investigations will commence in 10...9...8...

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Apache announces Suriname...and saves millions in the process

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