even big kev did not exercise many oppies, page-28

kj7 asked:

"why would KW pay more to exercise the options when he can buy the heads at a cheaper price? i'm glad he's not that dumb. lol"

Because they are essentially free shares, and he had no other reasonable option.

Selling 25,000,000 options paid for 250,000 more free shares.

His other options were:
1. Let the options expire worthless, and have NO more free shares.

2. Sell the options and take the money - but what message does that give to other people thinking of converting options?

3. Sell the options and buy shares on market - again - that sends a message that it may not be worth converting.

He had no reasonable alternative but to sell the options and use the proceeds to fund conversion. Except for one:

Use money from his own pocket to fund conversion of more options. Seems he couldn't find 2 bob to do this.

Joel