As previously discussed, value investors can benefit from investing along with other value investors. But the presence of another value investor as a major shareholder does not guarantee that a company will be run in a shareholder-friendly way. Sometimes, management and board practices can make life difficult for even the most active of value investors.
- In 2001, Mr. White received 250,000 shares for services rendered to ITEX as an independent consultant.
- For services as a director of ITEX from 2003 through 2007, Mr. White was compensated by an annual grant of 40,000 shares of common stock.
- For services as a director of ITEX in 2008 and 2009, Mr. White was compensated by an annual grant of 30,000 shares of common stock.
- On May 3, 2004, and again on July 6, 2006, Mr. White was awarded 300,000 shares of common stock for services rendered ITEX as Chief Executive Officer.
- On December 13, 2005, Mr. White was awarded 50,000 shares of common stock as consideration for his collateralized personal guarantee of ITEX obligations incurred in order to fund a corporate acquisition.
- On October 8, 2009, Mr. White was awarded 195,000 shares of restricted common stock for services rendered ITEX as Chief Executive Officer.