Brent Bailey was President and CEO of Cyanotech from January 2011 until March 2016, when he was unexpectedly fired by Michael Arlen Davis’ conflicted Board.
Bailey's termination (coincidentally) was timed to occur just prior to the date Bailey was going to vest into a large number of Cyanotech shares under his executive compensation package.
To compound the injury, Davis stopped the company from making payments on Bailey's severance agreement later in 2016, right after a Meridian SEC filing disclosing more information about the unusual depth and "new-age spiritual" nature of Davis' relationship with RSF. Davis' misconduct in withholding Bailey's severance was reversed during mediation, which should have surprised no one, including Davis. It appears Davis was simply using his Lawyers to punish Bailey in response to Davis’ frustration over Meridian exposing certain cultish aspects of the relationship between Davis and RSF.
At a minimum, Davis' treatment of Bailey calls into question his emotional stability, and suitability to lead the board of a public company.
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