Problem is, if we vote no, the remaining funds get swallowed up...

Problem is, if we vote no, the remaining funds get swallowed up faster than it would by awarding it, therefore bringing potential administration to a closer point. You would have thought, under the circumstances, they all would have just taken the salary cut in the interim, but by awarding themselves more shares to cover the gap of salary cut, then as you say, they show greed and a total lack of respect for all other shareholders.