Options should absolutely be factored into any assessment of the...

Options should absolutely be factored into any assessment of the MD's salary.

Tony receives a large base-salary. This means he is extremely well compensated regardless of how AZS performs. He also receives a generous options package. This means he stands to benefit should the share-price appreciate in value. He gets the best of both worlds. Sweet deal.

I've posted detailed peer comparisons in the past showing how well the AZS MD is compensated vs. the co's more successful peers. In my opinion, this renumeration is disproportionate to the minuscule size of the co and dramatic share price loss over a short/med/long term period.

But this is just my opinion. You're the one financing his pay check. If you think you're seeing value don't let me stand in your way from voting him another pay increase at the next AGM!