Can someone explain this to me? I'm a little confused. Issued 182,792 options at a strike price of $2.03, expire for 5 years. I read that as an option to purchase those shares for up to 5 years.
But then is mentions vesting like RSU's - with a condition of being a director. Does that mean 1/3 will vest within 12 months provided we hit the $2.03 exercise price?
I want to know will they vest for free or will he have to acquire with cash at $2.03?
Ann: Race Board Changes, page-8
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