There are directors/executives that sit on compensation committees that also wind up deciding their own pay. And if you decide your own pay it isn't much of a leap to also decide bonus amounts and criteria.
Some quotes: waive a shareholder’s right to sue the directors for violating their duty of loyalty regarding setting their own pay and For directors setting their own pay, the ruling suggested that a blanket waiver etc.
You're right. They're going to pay themselves the bonus regardless of this debacle.