Re: “The company doesn't need equity capital”Totally Wrong.The...

Re: “The company doesn't need equity capital”

Totally Wrong.
The company has needed new equity in the form of performance shares to fund payments to management and employees.

It has been in managements self interest to keep the share price as low as possible while earning their rewards, so that in the next round of rewards, they will be given a higher number of shares and at a lower hurdle price.
Remember they started the first round of performance shares with giving management performance shares for a declining share price.

We may see some effort to increase the share price late in the calendar year in order to be gifted their performance shares for this year.
Alternatively if they have little confidence in acheiving the hurdle price this year, it would be in their self interest to let the share price drift lower, as according to the current rules they will be given even more performance shares at an even lower hurdle price next year.

Overall the current renumeration policy has not contributed any support to the share price, and imo should be replaced by something which aligns management rewards with shareholder returns.