7c consilidation, page-24

Cosmo and others here; you guys seem a little upset by the fact CN sold the bulk of her share entitlement when exercised to give her a free carry. Have you guys actually done your sums? To have held the 10,000,000 disposed of at the exercise price of 6c would have required her to come up with $600,000. As you've stated CN is on a salary of $500K per annum, after tax this is more like $300K take home less the tax also she will have to pay on the profit from exercising all those options (which means she has put some skin in the game on the exercise), IE for her to have held them all would have required probably 100% of 3 years of her take home pay .... don't know about you but I think the bulk of us in that situation would have probably done similar, not to mention we have no idea of her personal financial situation or whether she even has the capacity to borrow the required funds, she still has my vote.