Yes, that is the main difference. To which my response is basically, yeah -- that's just a detail of how the compensation package got structured. I completely fail to see how that's problematic in any way.

Some executives are compensated with RSU's. Some with options. If you're negotiating compensation and it's options, you'll take into account whether the company does buybacks or dividends when comparing offers.

In the end the total package is the total package. So I just don't see anything "wrong" here.