Ann: 2023 Full-Year Financial Results Analyst Presentation, page-15

They need questions and that's the point of splitting Andrew's role, allowing him to focus on investments while someone else makes sure the people who are knocking it out of the park are suitably rewarded and collaboration is fostered.
I don't see anyone on the investment team who I think needs to be shown the door, marketing lady maybe.

The share based compensation is pretty outrageous when AUM is falling but who was asking the tough questions when the share price was up?
The 0.65m was an institution redeeming but they've made clear it's not the full amount.

As others have pointed out the survival of PTM is time limited, if passive US equities continue their dream run then PTM is toast.
I still think they are well positioned and increased my position to 65,000 shares on the sell off below $1.5 which I think is overcooked.