Illustration only based on 10,000 share parcels. Confirms that even if out of the money for the bonus option exercise that the shortfall is recouped if share price >$1.25 in May 2026. 25% downside risk now, and 75% upside opportunity in 2026. Also, if other shareholders exercise out-of-the-money but I do not, then I will suffer dilution.
The irony is there has been a lot of backlash in relation to oppies to staff in the past (including from me) so now I have a similar opportunity to benefit - apart from the cashless exercise. some other smart cookies have already mentioned sell to fund if short of cash. Not advice but hopefully raise some questions. I will exercise even if out-of-the-money. May also purchase more in the meantime because of the potential upside.
I haven't valued using Black & Scholes as it only represents intrinsic value, but somewhat irrelevant if the oppies are not tradeable. The following example shows actually 'cash positions'.
DYOR not advice as example relies on being in-the-money in May 2026, which is not guaranteed.
The next question is will we see the 75% target convert?
The T20 (representing just under half of the target), who might have the most to gain given then example above. Also, the shareholder spread below:
Is there still the ability to transfer the bonus options off-market?
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Mkt cap ! $282.8M |
Open | High | Low | Value | Volume |
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Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 10000 | $1.62 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.67 | 4080 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 10000 | 1.615 |
1 | 613 | 1.610 |
3 | 11750 | 1.605 |
10 | 117991 | 1.600 |
1 | 6329 | 1.580 |
Price($) | Vol. | No. |
---|---|---|
1.670 | 4080 | 1 |
1.680 | 10129 | 3 |
1.690 | 4628 | 1 |
1.700 | 2574 | 2 |
1.720 | 580 | 1 |
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