It really is as simple as they would have announced the options when they hit the targets. Some uneducated numpty who thinks director holding can change without notification is clearly wrong.
If you want to speculate on the extremely small chance that they still don't care for their disclosure obligations that is fine, but don't write as though it is plausible that the situation described in your initial post is likely. People may buy stock based on your fantasy story expecting profits.
GSW Price at posting:
36.0¢ Sentiment: Sell Disclosure: Not Held
