Chart, page-33

Unless I've got it wrong, dilution is when SOI increases (total number of existing shares). When oppies are offered and people convert them, the SOI increases.

Nevertheless, its a great way to reward shareholders since you have the option to convert them much later. E.g Take a look at LKE shareholders as they were offered bonus options at an exercise price of $0.35 in October and those that converted, made easy ~70% and then they also got a 1-1 additional bonus option with exercise price of $0.75 that expires in June 2022... The share price of LKE is already sitting $1.3 so ~73% profit again...

Pretty nice way to reward shareholders by offering oppies.