April 19, 2018 / 11:59 PM / a year ago

Watchdog says Cenveo stock grants as 'pay to stay' for insiders

Cenveo Inc has failed to show how proposed stock grants to insiders would help it emerge from bankruptcy, the U.S. Trustee’s Office said in court filings on Wednesday contesting details of the fourth-largest U.S. printing company’s reorganization plan.

The government’s bankruptcy watchdog argued for an order rejecting Cenveo’s disclosures for its plan, saying the company had not shown its planned incentives for insiders were for performance as opposed to retention.

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