If he decided he didn't want to be a board member tomorrow and sold on the exchange, it would send the price through the floor, making shareholders more resentful, which (in a company with normal capital structure) may be enough to call a board meeting and replace the CEO.
How many times does it need repeating that the exchange price is irrelevant. It's based on a small fraction of AM shares and the sentiment of day traders. If it fell to 0 in such circumstances, I certainly wouldn't be resentful. Pretty much everyone would be buying up incredibly cheap shares and the price would quickly get back to its original level before the sell off.
Considering the exchange is the most liquid source of shares, I'd say it carries
somewhat of a benchmark significance. You don't see people responding to the question 'Where can I buy shares of ASICMINER?' with 'Hmm, your best bet would probably be to troll the forum looking for a holder who will sell.' (and, coincidentally, if they do, what price will the holder undoubtedly quote to determine their price?)