Ann: Proposed Issue of Restricted Stock Units, page-30

So, when the Chairman resigned, he had unexercised options (how many, at what price?). For some reason he didn't want to exercise the options at that time (why not?), and so entered into some sort of negotiations with BRN to find a work-around to extend or replace the options that were soon to expire. But they couldn't get their shit in alignment, and the options expired. So, to avoid possible litigation, BRN wants to grant him 8 Million RSUs (for free) that will vest into 8 Million real shares at the end of the month they are granted.