1. Determine whether the board seems appropriately constituted. Are these people qualified to be governing a business of this type? (Read their bios and even Google them for more info.)
2. Assess the committees the board members sit on. Are they appropriately staffed?
3. Assess the management. How long have they been with the company? What is their relative experience?
4. Evaluate the board's philosophy on executive compensation.
5. Discuss the metrics tied to the CEO's inventive compensation. Are they sound metrics or not?
6. Determine if compensation is reasonable considering the company's financial performance.
7. Determine if related-party transactions (sometimes called "transactions with related parties") exist, and if they do, whether they are reasonable.