A few dollars here or there, which go to them via compensation, is not going to make a difference to me when I consider how much I expect to make on this investment, assuming management continues to conduct themselves in a committed, intelligent, industrious, ethical manner. It's hard enough to build a successful company. It's much harder to build a crazy successful company.
I'm not sweating this issue. You may. I am not.
I posted a summary of their compensation from 2002 to 2010 here.
One of the complaints investors typically have of pre-revenue, growth stage companies publicly traded companies, like biotechnology companies that often must raise copious amounts of money to fund development, is dilution. Dilution occurs, of course, through raising money to pay for management compensation, clinical development, etc. It is useful to understand how much dilution is borne by executives, and, to compare, how much dilution is incurred by shareholders in and over time.
The graph below, again take from the company's 14A filings, shows the growth in (a) the ownership of shares by the three founders, (b) the total number of shares issued and outstanding, (c) dilution incurred by the founders (or concentration, as the case may be) and (d) dilution incurred by shareholders; both (c) and (d) as a result of an increase in issued and outstanding shares due to the issuance of stock options to management, board directors and consultants and the issuance of common and preferred shares and warrants to investors from fund raising activities.
The table below is the data that underlies the above graph. Apologies; I neglected to label the sixth column. The figures in this column represent the founders' beneficial ownership as a percent of the total number of shares issued & outstanding (or thereabouts).