Give it a break, he exercised less than a month from expiry. I don't call that an early exercise of options. How long had he been granted those options for?
Possibly his Term Deposit matured and decided easier to roll funds into exercising then to reinvest in a TD that will not pay interest if not held untill maturity?
Your expectation is that BB should be exercising next years maturing options today. That will be an early exercise of options not less than a month.
Ann: Develop Receives A$11.55m from Directors Exercising Options, page-62
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