Actually, he does (although he isn't very clear about what he is saying to vote "NO" on.)
The proxy increases the incentive shares from 1.5 million to 4.5 million. This is not a vote to increase the total number of shares authorized by the company (and I looked to see how many that is but could not find it anywhere.)
These shares would be distributed over many years and likely would not have a significant - if any - affect on the current share price.
That said, I am not a big fan of these types of programs either but I guess it's the current way of compensating officers in any given company.