Meanwhile, the company set $450,000 in annual salary for the latest CEO, Nicole Ossenfort, and agreed to pay her a $225,000 signing bonus. She was also awarded $325,000 in stock units and another $325,000 in stock options that vest over three years.

These were the latest in a series of events triggered by September’s firing for founder and former CEO John Hewitt. KPMG resigned the account in December citing its concern over “tone at the top”. Hewitt was dismissed after an investigation by a prominent law firm said employees complained he had been having sex in his office and had favored employees with whom he had been romantic.

Starting with Hewitt, Liberty is on its third CEO and has lost two CFOs. It received a delisting notice from NASDAQ for its failure to file the financial reports. However, it was able to satisfy another notice, received after it lost the independent directors on its audit committee but has restocked that body. 

Ossenfort, a regional franchisor, was hired on February 19 and the same month the company hired Shaun York as COO and Ryan Dodson as chief strategy officer. Ross Longfield, a board member who resigned after approving salaries at the time, said the trio were “not qualified to hold these positions in a public company.” The board, dominated by Hewitt allies, fired the law firm which investigated him.

York and Dodson were given an annual salary of $300,000 and a $150,000 cash singing bonuses plus $200,000 in restricted stock units and $200,000 in options vesting over three years. The three execs are also eligible for bonuses up to 80 percent of base salaries.