I believe there are about 20mil shares on issue if you consider the fully diluted position (that is, 15mil shares, plus 5 mil options already issued but not converted to shares yet).
I believe roughly 80%(?) of the options are in the money so you could argue that the fully diluted share count is a bit below 20mil.
I personally don't have an issue with the size or strike price of the options package however I'd like to have it structured in a performance rights package that is valid for 5 years (meaning no additional performance rights being issued until that 5 year period is up), and having the rights linked to clear performance milestones and having these incentives trickle further down the organisation (not just/manly for the CEO and board).
Just my thoughts, happy to hear other views.
AVR Price at posting:
$20.42 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)