Yes, they deserve a performance bonus if further progress is made. But not 11m shares at this point while the company still hardly has two months of cash at hand. (And if there is a performance bonus: what about a performance malus for the Pestell debacle etc.?).

They are free to propose a reasonable compensation plan at any time.

Just my opinion. For me it's not that important, since I'm quite happy with them overall, but when the time comes, I'd encourage everyone to vote against that excessive amount of compensation.