"the Board has approved equity awards under the 2012 Plan to the Company’s recently hired President with a total grant date fair value of $1,500,000 contingent on the approval of Proposal 1. As of the date of this proxy statement, only a small number of shares of common stock remain available for future grants of equity awards under the 2012 Plan."

I don't know the details behind the $1.5 million, but I certainly hope it's based on future performance!