I think it's important to note that although management has been awarded a large amount of "shares" the effective strike price of the aggregate rewards is well below the current stock price. To be more clear...there "stock" is worthless unless THEY preform. They have collectively earned very little to date and likely still sticking around because they believe they can execute and make this company much more valuable than the strike price of the aggregate awards. Given this incentive, I firmly believe they have all the motivation they could ever want to get this company in the 500-700m market cap range.
"considering they are losing cash and not making it and the stock price is sitting at $2.58 there is no way these guys can be rewarded for exceptional job performance" Board of Directors strongly disagrees with your statement. And those guys are highly respected professional who are getting paid to make those decisions