Director Activity

Couple of thoughts about recent activity related to Directors. Welcome any feedback

1) AH - if my math is correct he sold $345K of heads and converted $629K of options into heads - ie net result is he reached into his own pockets to complete funding of the conversion

2) PH - remuneration increased to $250K + performance based bonuses and termination notice increased to 12 months
a) was this internally driven - probably not because:
i) would have been more likely to been addressed at the recent AGM if it is internal - why would this just happen one month post AGM
ii) executive / directors would be in constant discussion about tenure and wouldn't believe he would resign IMU directorship at a premature or inappropriate time
iii) "minimal" increase in remuneration wouldn't be driven by PH
b) was this externally driven - possibly part of lining up corporate ducks
i) any potential partner would want to ensure the good ship IMU stays on course during the critical phase of any corporate engagement
ii) locking in a key person would be critical particularly as someone like PH is involved in a number of companies and probably for this reason resigned from PTX board earlier this year
iii) the additional remuneration could be seen as a "$50K" (approx value of backdating 6 months) signing fee