have any names here, and we're not passing this out to you, but this is to illustrate how the process works. We did that for a while, but in the last couple of years or three or four, we have ceased doing that because of the difference in the amount of shares that somebody owns. Okay, 3, 055. 3, 035. Yeah. 250 shares came there. That's equivalent to a raise. And why show to all the other shareholders that, oh, this person got the. Oh, I didn't get that much. So, yeah, we, we don't quite do that. Yeah. Yes. Right. How do you make sure that's fair and transparent? well, to some extent, certainly to invite newbies in. Any shareholder can nominate somebody and has to write up why. And there are even guidelines to tell us about this aspect and this and this. To invite somebody new in, there's that as to the annual spread of the redeemed stock back out to others, that's a different process and it's relative. We want to find a home for all the stock. So we're going to give all of it out but in various proportions. And again, that's just subjective this time. I retained the word. That's a subjective process that a lot of people in the firm get involved in, and members of the board of directors, internal, who are the ownership transition committee, go to various supervisors to have a discussion, about people. So there's some deliberateness to that, but ultimately it is just subjective. That's right. That's right. We, however many shares this is, and I don't have totals on it, but this equals those shares and that's why that's zero. And again, there's some encouragement. It doesn't take much, to encourage somebody to cash in some shares and get those checks every month. Some. Yeah. Okay. Yes. Yeah. Nowhere is that written. So again, that's one of the subjective things. But we, want to manage the system so that again, we don't create some problem down the road that the only way we can cash Billy out is that we have to sell the firm or do something else. So, you know, we manage this and it's in our culture. We talk about it, we preach it all the time. Company first, company first. Okay. You may wish you had a little bit more than you have, but you have a good thing here. We all have a good thing. Let's keep it healthy. So that's how we run the program. 00:40:00 John R. McAdams: We'd be surprised if somebody down in these ranks wanted to turn and be an investor and we do have a soft policy that we don't always administer that says, look, if you're going to be a divestor, decline bonuses for two years, okay, and become static and then become a divestor. What we don't want is somebody to get a bonus of stock and turn right around and say, I'd like to divest. That would, that would ruin the system if that occurred. I mean everybody's saying, just give me the cash, just give me the cash every year. Well, we can't just give you the cash. We can give you, We've given the cash to the seller, to the investor. Well, at some point there will be secession of employment and the company will invoke the option that we have all agreed to in the shareholders agreement. It. So, yep. Bob, how are you enjoying your $25,000 of ownership? Isn't it then? Is it?
Made with FlippingBook Annual report