I agree. I don't think EE or David would need the dividend money to purchase more shares of the company. Especially since they have so many options outstanding right now.

BUT...if the insiders own too much of the shares outstanding, you might end up turning away institutional buyers (when we get that interest).

If you want the share price to run up, you need the big boys to chase them. And these big boys need to own enough to make it worth their while.

Imagine if insiders own 80%+?