Brian schweitzer stillwater mining stock
Brian Schweitzer, Director at Stillwater Mining Company, holds 39.70K shares in Stillwater Mining Company (Ticker: SWC)..
Former Montana Gov. Brian Schweitzer was elected to Stillwater Mining Co.'s board of directors along with three other dissident investors.
Amid corporate takeover attempt, Stillwater Mining revokes $M in shares awarded to CEO
BILLINGS, Mont. - Stillwater Mining Co. said Wednesday it was revoking almost , shares of company stock now worth more than $ million in the wake of a lawsuit that challenged the compensation to its chief executive as excessive.
The disclosure from the precious-metals mining company came as it tries to fend off a corporate takeover attempt by a group including former Montana Gov.
Brian Schweitzer.
The dissident shareholder group has made the company's compensation practices a central issue in its campaign to oust Stillwater's board of directors.
The move by the company on Wednesday appeared aimed at quieting any shareholder concerns ahead of a May 2 vote on a proposal to replace the current board.
The class-action lawsuit that triggered the stock revocation was filed last week by attorneys for a shareholder.
It claimed stock awards to Stillwater Chairman and CEO Frank McAllister in and exceed