Frankly he wouldn't care, since he holds 37m shares and he would vote yes to all the resolutions so they'll all pass I guess.
This just proves this guy has complete disregard for existing shareholders, why would a CEO need to issue 1 million option to himself when he already owns >37m shares, obviously this is NOT about incentives, this guy just want to pick up free shares at the expense of current shareholders, and by the way he already have 1.9m options outstanding, but I guess that's obviously not enough for him because he can't reach those high prices, so he just issues ever greater number of options at lower prices.
A great CEO has passion for the company, and this is not based on financial incentives such as short-term bonus or options. There's a lot of people out there in the world who are capable and have real passion for water sustainability, and they can do Richard's job with half the salary and perks.
And by the way, I note how he wrote the directors took a 20% pay cut, to justify the 1m option each, for the 4 directors they had roughly AU$30,000 reduction for each of them, yet they're issuing 1 million option each at 23 cents which is $230,000, how does that $230k equate to $30k?? Seriously if these directors would only do the job because of options, then get f**k out because I'm pretty sure most long-term holders from what I read here are way more passionate about the long-term prospects of Fluence and water industry.
Anyway, I'm ranting a bit, I only held FLC for 5 months and now its by far my worst performing stock this year. Actually I'm not stressed about share price, however to issue so many options and asking for the ability to issue 25% of company's shares at CURRENT PRICES proves this management is extremely incompetent, and that's a problem.
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