b4bmm,
You need to understand that we are only talking about options. At the end of the day they need to pay (more than what we had paid for our shares) to turn those options into share. They are not getting it for free. They are going to PAY for it IF they want it.
The strike price will be the 5day VWAP + 30 %. So if VWAP for the 5 days preceding issue date of options was 10c, then the strike price will be 13cp/s. So in the case of CN, she'd have to pay $1.3mil to take up her full share allotment. It's not as if they are ripping us off.
Ann: Notice of Meeting, Executive Incentive Plan and option issue, page-88
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