Post by Ethan / JRyan on Aug 17, 2018 22:42:55 GMT -5
Zion Oil Management - Executive Pay and Zion Oil
To those that are being told false information about Zion Oil by the short and distort crowd, I wanted to put a couple of things into perspective for you. This board is being blasted with childish rants about dilution and poor management. This is of course only opinion and biased at that because the whole story of course is conveniently left out.
Lets compare Zion Oil with some comparably sized companies and compare compensation.
It does not seem too far different and certainly not excessive. I mean if you want good people you have to pay them well. I know as what I do for a living is in demand and wages are growing. Electrical Engineers are hard to find, especially with my skill set.
Let this sink in a bit. Is this excessive? I thought so. Remember we are considered an exploration company, at least for another month or so. So of course there are no revenues, yet there is no debt either. I am behind this endeavor and I think the $50 million raise is for things are we are talking about yet the company can not, at least not yet.
Still not just me but some respectable firms also looked into this:
Is Zion Oil & Gas Inc’s (NASDAQ:ZN) CEO Overpaid Relative To Its Peers?
Shawn Clark - Simply Wall St. June 4, 2018
Simply Wall St
Is Zion Oil & Gas Inc’s (NASDAQ:ZN) CEO Salary Justified?
Luis Baughman - Simply Wall St.March 1, 2018
CEO Salary Justified?
So is Simply Wall Street just a hack for Zion Oil while the Financial Times is one against the stock? (See the time line article for more information about this classic short and distort accusation!)
TIMELINE
So ask yourself a question, do we Zion Oil pay our executives too much? Could these guys be making more money elsewhere? What is the Petroleum industry job market like at this time?
EDIT : There is noise about wether John Brown invested his own money into Zion Oil. There was a video here in which he talks about it a little:
Video Update from Zion Oil & Gas Founder - John Brown
I also just found a statement from Zion Oil about just this.
13 August 2009
To those that are being told false information about Zion Oil by the short and distort crowd, I wanted to put a couple of things into perspective for you. This board is being blasted with childish rants about dilution and poor management. This is of course only opinion and biased at that because the whole story of course is conveniently left out.
Lets compare Zion Oil with some comparably sized companies and compare compensation.
It does not seem too far different and certainly not excessive. I mean if you want good people you have to pay them well. I know as what I do for a living is in demand and wages are growing. Electrical Engineers are hard to find, especially with my skill set.
Zion’s CEO, Mr. Carrillo, had 2017 annual total compensation of $448,902, consisting of salary, bonuses, option awards and all other compensation, as reflected in the Executive Compensation table included in this Proxy Statement. Our median employee’s annual total compensation for 2017 was $139,000. We estimate that Mr. Carrillo’s annual total compensation was approximately 3.2 times that of our median employee in 2017.
Let this sink in a bit. Is this excessive? I thought so. Remember we are considered an exploration company, at least for another month or so. So of course there are no revenues, yet there is no debt either. I am behind this endeavor and I think the $50 million raise is for things are we are talking about yet the company can not, at least not yet.
Still not just me but some respectable firms also looked into this:
Is Zion Oil & Gas Inc’s (NASDAQ:ZN) CEO Overpaid Relative To Its Peers?
Shawn Clark - Simply Wall St. June 4, 2018
Simply Wall St
You can breathe easy knowing that shareholder funds aren’t being used to overpay ZN’s CEO.
Is Zion Oil & Gas Inc’s (NASDAQ:ZN) CEO Salary Justified?
Luis Baughman - Simply Wall St.March 1, 2018
CEO Salary Justified?
Looking at the range of compensation for small-cap executives, it seems like Carrillo is remunerated sensibly relative to peers. Overall, although ZN is loss-making, it seems like the CEO’s pay is reflective of the appropriate level.
So is Simply Wall Street just a hack for Zion Oil while the Financial Times is one against the stock? (See the time line article for more information about this classic short and distort accusation!)
TIMELINE
So ask yourself a question, do we Zion Oil pay our executives too much? Could these guys be making more money elsewhere? What is the Petroleum industry job market like at this time?
EDIT : There is noise about wether John Brown invested his own money into Zion Oil. There was a video here in which he talks about it a little:
Video Update from Zion Oil & Gas Founder - John Brown
I also just found a statement from Zion Oil about just this.
John Brown, founder and chairman of Zion Oil & Gas (NYSE Amex “ZN”) was an entrepreneur in Michigan who sold a multi-million dollar tool company when he heard the calling. In 2000, Mr. Brown divested himself from his business and directed his efforts to finding oil and gas in Israel, based on the interpretations of the Bible with God’s blessings to Joseph and the nation of Israel.
13 August 2009
. This definitely puts things in perspective. He could be working for someone else making much more. We have to start comparing apples to apples and not apples to oranges. Thanks for sharing!