pete's 400,000 options vote

Resolution 5 at the forthcoming AGM is to grant PS 400,000 options at an exercise price of around 33c. This is from the resolution ---

"The Directors believe that the quantum of Options to be issued to
Dr Peter Smith, subject to Shareholder approval, is reasonable
given the complexity of the Company’s activities and the demands
placed on individual directors over and above that which is
considered usual. In particular, the proposed issue is made in
recognition of the efforts of Dr Peter Smith in seeking to achieve
growth of the Company’s capabilities and Share price".

l just about choked when l read the last line. Using that rationale he should be handing back some of his shares.

I have no problem handing out bonuses to CEOs however it should be done after the fact NOT before.