The positives from being issued shares with an attaching...

The positives from being issued shares with an attaching loan,from the directors perspective,I see as being 2 fold.Firstly it makes it seem on face value when looking at the top 20 that directors have skin in the game,when in fact they are risking nothing, and secondly it gives them votes,which they wouldn't have if their only holdings were options.In this recent case if PB had options and not 12M shares,the outcome of the GM would have been flipped.