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[Update1] Geeknet (GKNT) President, CEO of Media and President, CEO ThinkGeek Awarded $4M in Bonuses Not Based on Performance. Pending Spinoff(s)/IPO(s) or Negligence?



December 21, 2010 – Comments (0) | RELATED TICKERS: GKNT.DL , BBY , AMZN

Geeknet (GKNT) President, CEO of Media and President, CEO ThinkGeek Awarded $4M* in Bonuses Not Based on Performance. Pending Spinoff(s)/IPO(s) or Gross Negligence? Story developing...


Note: Collison's and Offutt's titles on said SEC FORM 4's are both designated as "President, CEO" of their respective divisions. Pending separate spinoffs/IPO's? (See February 06, 2005 article below, The Times, London - GKNT Insider shareholder value vs. non-insider shareholder value?)


* Based on the closing price of Geeknet (GKNT) on December 14, 2010 ($25.89). Form 4 Scott Collison filed December 16, 2010 (78,125 shares). Form 4 Caroline Offutt filed December 16, 2010 (78,125 shares). 



(December 17, 2010) Multi-million-dollar bonuses, Yahoo! Finance Message Board, Geeknet, Inc.

(December 16, 2010)   Geeknet (GKNT) Names GE Healthcare CFO, Kathryn McCarthy, as GKNT CFO Effective January 4th, 2011

(December 15, 2010) [Update1] ThinkGeek (NASDAQ:GKNT) Initiates a 20% Discount on TK-421 on the Heels of engadget, Chip Chick, c|net...Unanimous Thumbs Down Review for Their Highly Anticipated iPhone Keyboard...Wikileaks and SourceForge?

(December 03, 2010) [Update5] Geeknet Disrupt - Can Langone's team turn Feedery into the Next Generation Social Media News Site/Engine? 33 Months Ago 13D Hedge Fund Shareholder Put Pressure On Geeknet (GKNT) Board Demanding to Unlock Value. Where is Geeknet today?

(November 22, 2010)  [Update2] There's no "Team" in "I". ThinkGeek (GKNTD) President Files 8-K Minutes Before Market Close [on a Friday] - Sticking it to Non-insider Shareholders and a No Confidence Vote in President, Media/Media Division.

(November 18, 2010)  [UPDATE1] Geeknet (GKNTD) Names Scott [Ohloh] Collison as President and GM, Media and Announces Move from Silicon Valley to ThinkGeek's HQ, Virginia, CFO to Resign.
(October 16, 2010)  [Update2] Geeknet (GKNT) Announces Sale of to Black Duck Software. What's Next for and

(February 06, 2005) Kenneth Langone on Bonuses: The Times, London. Grasso denies any excess in $100m pay row. (Unedited version, SourceWatch).

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