didn't he invested in his ability/energy/work done, etc? isn't the 80% for re-invesment?
if his "ability/energy/work done" is worth $4,000,000 he need to explain that.
i made mistake

i assumed 80% you referred, is the re-investment plan, but its the 60k (80%) shares, right?
i have no clue if he will holding majority of that shares, if you mean that
edit: and maybe some of that into re-investment

, i don't see re-investment plan in OP, maybe i miss? some one point me please