$MNKD Rewarding underperformance using low bar ! On 8/27/2020 MNKD issued huge amounts of RSU's, with Mike getting 409,000 shares with no targets & 500,00 shares with targets tied to MNKD stock price performance vs Russell 3000 Pharma Index from 8/27/2020 until 5/22/2023. Stock price on 8/27/2020 was $1.63, that will likely enable leadership & Mike to vest all their RSU's on 5/22/2023, at the highest percentage off of less than stellar performance. "The number of shares delivered on the vesting date, as a percentage of the target specified in Box 4 above, is determined by the percentile ranking of MannKind total shareholder return (TSR) over the period from August 27, 2020 until May 22, 2023 related to the TSR of the Russell 3000 Pharmaceutical & Biotechnology Index over the same period, as follows: less than 25th percentile=0% of target, 25th percentile=50% of target, 50th percentile=100% of target, 75th percentile=200% percent of target, 90th percentile or higher=300% maximum."
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