I agree with you in concept. But key here in not what Al did, but when he did it. The time he chose to do the conversion was self-serving and at best in poor taste. In a zero sum game that this is, and based on the timing of the conversion, what he took came out of the pockets of other shareholders, while as a CEO and the chairman of the board, he had the responsibility to guard the interest of all shareholders, not just his own.