Wasn’t it very fortunate for Joyce that the “write down” of Company assets happened to coincide with the start of the executives Long Term Incentive Plan. It nicely meant that the shares that they were to receive were locked in at the lowest possible price (circa 83 cents) and over the next four years, the company was magically profitable with resultant significant gains in the share price - aided, of course, by using some of the profits to buy back shares (thus keeping the share dividends fairly lean).
It can only be considered luck that the share price was extremely low at the start of the LTIP yet was in the stratosphere when it matured - I don’t know why the institutional shareholders aren’t looking into this more actively considering they were denied share value and dividends while when the share price was being driven down.