Ann: Application for quotation of securities - 4DS, page-54

We need someone to comment who understands US tax law. Do US citizens have to pay tax on the difference between the option conversion price and the share price at the date of conversion?

If this is the case then it makes more sense to exercise at as low a share price as possible rather than after the price has perhaps increased upon another announcement after the October IMEC meeting?

I haven't had time this arvo to investigate this properly.

To me I'd think this is likely either around minimising tax or trying to create a management voting rights block (or both).