Latest news with #PerformanceAwards
Hamilton Spectator
27-05-2025
- Business
- Hamilton Spectator
Grant of Performance Share Awards Under Long Term Incentive Plan and PDMR Shareholdings
VANCOUVER, British Columbia, May 27, 2025 (GLOBE NEWSWIRE) — Cornish Metals Inc. (AIM/TSX-V: CUSN) ('Cornish Metals' or the 'Company'), a mineral exploration and development company focused on advancing its 100% owned and permitted South Crofty tin project in Cornwall, United Kingdom, announces that on 23 May 2025, the Company granted conditional performance share awards ('Performance Awards') under the new Cornish Metals Long Term Incentive Plan ('LTIP') which was approved by shareholders on 18 March 2025. Performance Awards have been granted over a total of up to 12,837,423 common shares of the Company to certain employees pursuant to the LTIP. In determining the number of awards, the Company has used a share price of 8.15p, being the closing price on 22 May 2025. The LTIP awards will vest on 31 December 2027, subject to meeting certain strategic, operational, financial and shareholder return performance criteria and the continued employment of the participant. The targets are in relation to the following performance conditions: Following these grants there are 12,837,423 unvested Performance Awards under the Company's LTIP, equating to approximately 1.03% of the issued share capital of the Company. There are also 25,916,667 share options under the legacy Share Option Plan, equating to approximately 2.07% of the issued share capital of the Company. No further awards under the legacy Share Option Plan will be made. PDMR Grants Don Turvey, Matthew Hird and Fawzi Hanano have been granted the following Performance Awards: The notification below, made in accordance with the requirements of the UK Market Abuse Regulation, provides further detail. ABOUT CORNISH METALS Cornish Metals is a dual-listed mineral exploration and development company (AIM and TSX-V: CUSN) that is advancing the South Crofty tin project towards production. South Crofty: ON BEHALF OF THE BOARD OF DIRECTORS 'Don Turvey' Don Turvey CEO and Director Engage with us directly at our investor hub. Sign up at: For additional information please contact: Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release . Caution regarding forward looking statements This news release may contain certain 'forward-looking information' and 'forward-looking statements' (collectively, 'forward-looking statements'). Forward-looking statements include predictions, projections, outlook, guidance, estimates and forecasts and other statements regarding future plans, the realisation, cost, timing and extent of mineral resource or mineral reserve estimates, estimation of commodity prices, currency exchange rate fluctuations, estimated future exploration expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, requirements for additional capital and the Company's ability to obtain financing when required and on terms acceptable to the Company, future or estimated mine life and other activities or achievements of Cornish Metals. Forward-looking statements are often, but not always, identified by the use of words such as 'seek', 'anticipate', 'believe', 'plan', 'estimate', 'forecast', 'expect', 'potential', 'project', 'target', 'schedule', 'budget' and 'intend' and statements that an event or result 'may', 'will', 'should', 'could', 'would' or 'might' occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this news release, are forward-looking statements that involve various risks and uncertainties and there can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to receipt of regulatory approvals, risks related to general economic and market conditions; risks related to the availability of financing; the timing and content of upcoming work programmes; actual results of proposed exploration activities; possible variations in Mineral Resources or grade; projected dates to commence mining operations; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; changes in national and local government regulation of mining operations, tax rules and regulations. The list is not exhaustive of the factors that may affect Cornish's forward-looking statements. Cornish Metals' forward-looking statements are based on the opinions and estimates of management and reflect their current expectations regarding future events and operating performance and speak only as of the date such statements are made. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward- looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements. Cornish Metals does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable law.
Business Wire
21-05-2025
- Business
- Business Wire
Rate of initial denials of medical insurance claims continued to rise in 2024, Kodiak Solutions' proprietary data show
INDIANAPOLIS--(BUSINESS WIRE)--Hospitals, health systems and medical practices faced insurance claims practices that slowed payments for needed medical care in 2024 compared with 2023, new Kodiak Solutions revenue cycle data show. 'Payors appear to be using initial denials to slow payments, even though they ultimately pay approximately 90% of claims, a trend we have been tracking." -- Matt Szaflarski, Kodiak's vice president, revenue cycle intelligence Share Medical providers also collected about $3 less for every $100 dollars that insured patients owed on their portion of their medical bills, the data also show. The data are from more than 2,100 hospitals and 300,000 physicians that use the Kodiak Revenue Cycle Analytics platform to manage their net revenue and monitor their revenue cycle performance. The initial denial rate on claims in 2024 increased 2.4% to 11.81% of claims in 2024. The rate climbed even as medical providers have managed to cut the rate of initial denials related to authorization issues by 7.7%. Denials related to questions of medical necessity and requests for more information (RFI) more than made up the difference, with the rates for both categories increasing by 5% and 5.4%, respectively. Kodiak Solutions first highlighted the increase in RFI initial denials in August 2024. 'Payors appear to be using initial denials to slow payments, even though they ultimately pay approximately 90% of claims, a trend we have been tracking,' said Matt Szaflarski, Kodiak's vice president, revenue cycle intelligence. 'Even if the claims are ultimately paid, initial denials still cost hospitals, health systems and medical providers a lot of resources to overturn, and they also slow cash flow.' Kodiak Solutions data show that true accounts receivable (AR) days increased 5.2% year-over-year. Provider organizations collected 34.46% of amounts owed by insured patients, down 8.3% from 2023's self-pay rate for insured patients of 37.58%. Lessons from revenue cycle leaders Conversations with leaders of health systems that were recognized in Kodiak's annual Revenue Cycle Performance Awards yielded tips for improving performance that are detailed in the May 2025 Kodiak RCA Benchmarking Analysis. These high-performing revenue cycle teams shared three attributes: A close working relationship with clinical leaders Accountability for team members to revenue cycle performance metrics Strong relationships with payors. To learn more about the data and insights Kodiak Solutions can provide to benchmark your revenue cycle performance, contact Szaflarski at (463) 270-8123. About Kodiak Solutions Kodiak Solutions is a leading technology and tech-enabled services company that simplifies complex business problems for healthcare provider organizations. For nearly two decades as a part of Crowe LLP, Kodiak created and developed our proprietary net revenue reporting solution, Revenue Cycle Analytics. Kodiak also provides a broad suite of software and services in support of CFOs looking for solutions in financial reporting, reimbursement, revenue cycle, risk and compliance, and unclaimed property. Kodiak's 450 employees engage with more than 2,100 hospitals and 300,000 practice-based physicians, across all 50 states, and serve as the unclaimed property outsourcing provider of choice for more than 2,000 companies. To learn more, visit our website.
Yahoo
20-05-2025
- Business
- Yahoo
Glass House Brands Announces Mailing of Circular and Establishment of Share-based Long-term Management Incentive Plan Pending Shareholder Approval
LONG BEACH, Calif. and TORONTO, May 20, 2025 (GLOBE NEWSWIRE) -- Glass House Brands Inc. ('Glass House' or the 'Company') (CBOE CA: GLAS.A.U) (CBOE CA: (OTCQX: GLASF) (OTCQX:GHBWF), one of the fastest-growing, vertically-integrated cannabis companies in the U.S., today announces the mailing of its management information circular and related materials to shareholders in connection with the upcoming annual and special meeting of shareholders, to be held on June 20, 2025 (the 'Meeting'), where disinterested shareholders will be asked to approve Performance Awards (defined below) associated with the establishment of a long-term management incentive plan and a related increase in the share reserve of the Company's equity incentive plan. On May 15, 2025 (the 'Grant Date'), subject to Disinterested Shareholder and applicable exchange approval, the Board of Directors (the 'Board') approved an initial long-term management incentive plan granting to each of Kyle Kazan, Co-Founder, Chairman and Chief Executive Officer, Graham Farrar, President, Mark Vendetti, Chief Financial Officer, Hilal Tabsh, Chief Revenue Officer, and Benjamin Vega, General Counsel and Corporate Secretary (each, a 'Recipient') certain performance-based restricted stock units ('RSUs') that vest only if the Company achieves certain share price milestones and the Recipients meet certain time-based vesting requirements (the 'Performance Awards'). Vesting of the Performance Awards will occur over a five-year period and is dependent on the Recipients leading the Company to achieve a minimum $30.00 price per share, with further incremental vesting if the share price reaches or exceeds $60.00 per share. On May 14, 2025, the day prior to the Grant Date, the closing price per share was $6.51. In sharing his thoughts, Mr. Kazan said, 'I believe that to hit the share price targets in the LTIP, Glass House Brands will need to be uplisted on a major exchange, and should that happen, I would expect a renewed focus on this industry, likely with monetary resources never seen. As Glass House has in my view one of the best, if not the best, executing teams in cannabis, I sincerely appreciate the Board granting an incentive package that aligns with investors on a stretch goal. The 'glue in the seat' for the senior team is a helpful motivation to keep the team intact.' The Performance Awards are designed to provide the Recipients with incentives linked to significant long-term shareholder value creation. In aggregate, 3,000,000 performance-based RSUs were granted, representing approximately 2.3% of the fully diluted share-count as of May 14, 2025 assuming the exercise of all outstanding warrants and achievement of a $60.00 share price. Share price performance targets will be measured quarterly using a volume weighted average trading price. Vesting is tied to growth in share price, rather than increases in market capitalization, to align the Performance Awards with long-term shareholder interests and encourage a continued, disciplined approach to treasury management and shares outstanding. Subject to certain limited exceptions, vesting of the Performance Awards is also conditional upon the Recipients' continued service in senior executive roles for a minimum of three years following the Grant Date. Payout of vested Performance Awards will be deferred until the end of the fourth and fifth years, respectively, following the Grant Date. In determining whether to grant the Performance Awards, the Board established a special committee comprised of independent directors (the 'Special Committee') to develop and assess the efficacy of granting such awards, including its risks and alternatives, and to ensure that the grant of such awards to the Recipients would be in the best interests of the Company. The Special Committee retained Hugessen Consulting, an independent compensation consultant, as advisor. The Board and Special Committee believe the Performance Awards are in the best interests of the Company as they further align shareholder, Company, and Recipient interests; encourage Recipient retention; and promote the achievement of the Company's current and future strategic and financial objectives. In connection with the design of the Performance Awards and consistent with best governance practices, the Board adopted a clawback policy, whereby any proceeds received by Recipients under the Performance Awards would be clawed back in the event of certain financial restatements. About Glass House Brands Glass House is one of the fastest-growing, vertically integrated cannabis companies in the U.S., with a dedicated focus on the California market and building leading, lasting brands to serve consumers across all segments. From its greenhouse cultivation operations to its manufacturing practices, from brand-building to retailing, the Company's efforts are rooted in the respect for people, the environment, and the community that co-founders Kyle Kazan, Chairman and CEO, and Graham Farrar, Board Member and President, instilled at the outset. Whether it be through its portfolio of brands, which includes Glass House Farms, PLUS Products, Allswell and Mama Sue Wellness or its network of retail dispensaries throughout the state of California, which includes The Farmacy, Natural Healing Center and The Pottery, Glass House is committed to realizing its vision of excellence: outstanding cannabis products, produced sustainably, for the benefit of all. For more information and company updates, visit and Forward Looking Statements This news release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as 'forward-looking statements'). Forward-looking statements reflect current expectations or beliefs regarding future events or the Company's future performance or financial results. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as 'plans', 'expects', 'is expected', 'budget', 'scheduled', 'estimates', 'continues', 'forecasts', 'projects', 'predicts', 'intends', 'anticipates', 'targets' or 'believes', or variations of, or the negatives of, such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'should', 'might' or 'will' be taken, occur or be achieved. Forward-looking statements in this news release include, without limitation, statements regarding the design and implementation of the Performance Awards, the retention of key leadership team members, and the potential future growth in share price. All forward-looking statements, including those herein, are qualified by this cautionary statement. Although the Company believes that the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. Accordingly, readers should not place undue reliance on forward-looking statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information, including those risks disclosed in the Company's Annual Information Form available on SEDAR+ at and in the Company's Form 40-F available on EDGAR at For more information on the Company, investors are encouraged to review the Company's public filings on SEDAR+ at The forward-looking statements in this news release speak only as of the date of this news release or as of the date or dates specified in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. For further information, please contact: Glass House Brands DeCourcey, Vice President of Investor RelationsT: (781) 724-6869E: ir@ Investor Relations Contact: KCSA Strategic CommunicationsPhil CarlsonT: 212-896-1233E: GlassHouse@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
