15,000,000 Shares for his yearly salary, if you took the price to be 1 cent (which should be pretty close to the 33% premium, that equates to a salary of $150,000 for the year.
I would suggest that's pretty reasonable for a yearly salary of a managing director, anyone disagree?
The remaining 15,000,000 shares are only if the company reaches a certain share price, and aren't massive values anyway. Will anyone be complaining about giving him 7.5 mil shares if the share price is almost 4 cents!
I think it's a good sign that he is prepared to exchange his salary for shares, keep in mind if he leaves early he only gets ~$75,000 worth of shares and if he sends the company broke he gets nothing. People always want to see the director's have skin in the company well here is a great example.
In summary, a year of services for $150,000 (bargain) and an incentive to push the companies share price higher (great for us).
I'll be voting yes.
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