Ann: Appendix 2A, page-5

These were exercised at 40c - 33% premium to JCs stash. And it's more money in the coffers. More money means faster rollout, more research, more promotion, more income ...... and maybe just maybe, dare I say, dividends sooner.
The capital profile is shifting rapidly for KSS.
And yes our holding is being diluted, but it's just an ego trip for me to be able to see our names.
I'd rather have a stiff word with my ego and take the money.