Yes, he showed confidence too by buying 500,000 shares at 20c when he became a director, remember? And he already bought 400,000 shares prior to becoming a director.
He will be down easily $100k so far on the 900k shares.
On the 500k he bought at 15c in the placement, he's already down $15k.
I must admit I am rather surprised he did not bailed out of the shares when he quit but if he likes throwing good money after bad like the institutions, one must wish him good luck!