Corporate Board Profile
Tech Score: 0/100
| Filing Date | Source Excerpt |
|---|---|
| 2005-01-28 | John C. Morris 55 Chairman, CEO and Director since May 1994 John C. Morris has served as President, CEO and Chairman of the Board of Directors of the Company since May 1994. John C. Morris, 2004 $150,000 $246,500 -0- 250,000 -0- -0- President For the year commencing on March 1, 2004, the Compensation Committee has set the base salaries for John Morris and Greg Stemm at $250,000 per year. During the fiscal year ended February 29, 2004, we issued the following options to directors, in addition to those itemized in the Summary Compensation Table above, from the Plan: George Knutsson Director 3/18/2003 25,000 $1.25 2/28/2008 Effective January 14, 2005 our outside Directors are compensated for attending meetings according to the following structure: Each non-executive director will receive $20,000 annually. In addition Non-executive directors shall receive $1,000 per meeting attended on behalf of the Board of Directors including full Board Meetings, Audit Committee Meetings, and Compensation Committee Meetings. Committee Chairman shall receive an additional annual retainer of $5,000 for the Audit committee, or $2,500 for the Compensation and Governance committee and will receive an additional $500 per meeting over which they preside. |
| 2006-03-29 | John C. Morris served as President and CEO of the Company from May 1994 until November 2005 when he resigned as President and CEO due to the effects of cancer treatment. He has served as Chairman of the Board of Directors of the Company since May 1994, and as Co-Chairman since February 24, 2006. Mr. Morris' medical condition continues to improve and he maintains his position as Co-Chairman. In these capacities, Mr. Morris has been responsible for strategic planning, financing, and general execution of our business plan. He has overseen the first deep water archaeological recovery of a Spanish shipwreck from the 1622 fleet using a remotely operated vehicle and has been instrumental in the planning and execution of the company's current search and recovery operations. Mr. Morris continues to work with the investment community and to provide oversight to the Company. John Morris was awarded a bonus in the amount of $200,000 (which is 80% of his annual salary). The primary accomplishments which were the basis of this decision were: (1) The successful completion of the private offering to institutional investors in March 2005 which raised approximately $6,400,000 for the Company at a time when the financing was critically needed by the Company; (2) The successful completion of the exercise of warrants outstanding in September and October which raised an additional approximately $8,700,000 of funds for the Company; (3) the addition of the Company to the Russell 2000, 3000 and microcap stock indexes during 2005; and (4) an approximately 41% appreciation in the Company's stock price from January 1, 2005 to December 31, 2005. |
| 2007-04-17 | John C. Morris, 57, Co-Chairman and President and CEO; Director since May 1994 |
Data sourced from SEC filings. Last updated: 2025-12-06