So in April, management stated in the Proxy that the Transformation was a "success", expected to achieve $1B goal by y/e 2019, and also gave themselves a bonus at least partially based on Transformation benefits recognized in 2018 . Then in May at the 40-day filing deadline of 10-Q and while announcing bankruptcy, they stated that $1B goal will take significantly longer than original y/e 2019 target date. And during this month, they gave themselves a prepaid retention bonus.
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I wonder if any of the executive bonus payments will be subject to claw back during bankruptcy proceedings
Nothing if you are part of the executive team and work out a deal for 5% of the restructured company’s equity.
You guys are just jealous.....the transformation was from a healthy vibrant company to bankruptcy. What is wrong with that?
Sickening if true but entirely understandable from Weatherford management. Shows just where their priorities lie.
That’s f’ing BS. Someone ought to burn the headquarters building down to the ground.