An Ann that you know doesn't tell the whole truth behind its...

An Ann that you know doesn't tell the whole truth behind its implementation.
Couple of possible reasons:
Alain' performance options stipulate that they are null if he no longer works for the company. 2.5m shares is quite a bit of dilution, the 500k would have been a compromise and a handshake to allow him some thanks for what he has done.

The appointment of a TAC executive to the board seems like a double edged sword. It seems now TAC will always get a loyalty deal for how long they have supported CFO and I suspect Alain's efforts to move away from TAC had something to do with his departure. At the same time CFO's product seems legitimate enough for our main customer to want to tie up supply, remember if only one contract gets signed it's enough to tie up ALL production. I suspect this move to appoint TAC to the board is also a ploy to ensure they get the supply, not a competitor willing to offer a little more for product. At the same time the guaranteed demand for Cfoam would allow the future phase expansions to go full steam ahead.

It may have been a deal, put a TAC member on the board and you will get all our orders. At this stage CFO didn't really have a choice seeing as how TAC were essentially keeping them afloat.
It is a strategy Toby has been involved with before at other companies so wouldn't be a surprise here.

I don't see this departure as a sign of a poor quarterly coming, at least not a high probability. Alain has shown performance and there has been setback quarterlies before and he hasn't run. Besides nearly every other company that posts horrific results rewards themselves not departs.