Per a recently filed SEC Form 4, Celgene has already granted Ms. Cox a 25,000 share stock option -- in addition to the annual retainers for directors of the company:
. . . .The Celgene Option will vest and become exercisable in four equal annual installments commencing on December 16, 2010. . . .
At today's NASDAQ closing of $56.29, she is already in the money to the tune of over $112,000. She hasn't shown up for a single tough board meeting (one of seven per typical year; often held at resorts, or other exotic locations); she hasn't filled out an annual D&O questionnaire, yet -- to be named in the proxy -- and she's sitting on $112,000. That's more than many legacy (and soon-to-be) Ex-Schering-Plough employees made for the whole year 2009.
There are several things wrong with this picture.