Beyond the immediate mission, we are providing a list of additional initiatives that could be undertaken by any of us as individual shareholders. While not all inclusive, they are certainly consistent with the Groups immediate mission.
That said, we believe in its initial phase, the group effort is better served by staying focused on the “no on pay” initiative as it is (a) a mandated proposal that (b) must be reported on publically shortly after the Shareholder meeting. Thus, we are not asking management or directors to do anything they are not already required to do by law.
Never-the-less, any or all of the following are certainly consistent with the overall objectives of the group. We list them merely as food for thought for any shareholder so inclined.
1. To instill a far more sensitive management team to the short term needs of the company’s owners by implementing reasonable financial practices that defend the company’s stock performance from adverse market manipulation.
2. To ensure there are independent Directors in place who understand their governance responsibilities to represent the needs of their primary constituency - shareholders.
3. To remove Celgene’s existing poison pill provisions that do nothing but (a) inhibit a larger company led by a more qualified management team from accelerating Celgene’s pipeline and existing product availability to a larger patient population and (b) enriching already well compensated executives, beyond the significant appreciation of past, low priced granted options and restricted stock.