I have no idea what his annual salary is, but doubt very much whether he earned $440,000 in after tax income to spent on shares so early in his tenure.
I worked out based on the annual report which showed 2 weeks worth of payment to the CEO of $25,781 (he was appointed 15th June 2011) that he is on a yearly salary of at least $670K. There is also a $670K payout on termination (at least a year's salary). So if he hangs around for a year, regardless of success or failure that's at least $1.34mill. Again it's nice to see he has committed funds to the cause via a shareholding, however, his situation risk wise is far off that of you and I. I have no doubt he is doing everything to make the company a success and he will be rewarded accordingly through his share holdings but his personal success dollar wise does not rely necessarily on the success of the company.
ISN Price at posting:
10.0¢ Sentiment: None Disclosure: Held
