"Exercised Options may be satisfied, at the discretion of the...

"Exercised Options may be satisfied, at the discretion of the Board, in cash rather than Shares, by payment to the
holder of the cash equivalent value, net of applicable taxes and other withholdings, less any exercise price that
would have been payable by the holder (and no exercise price is required to be paid by the holder)." This is only for the unlisted options to the board btw. Read the Ann from the 24th Jan 2020 from memory

I bet just about all the holders didn't even know about this little gem voted upon at the EGM too. It means the ceo can take money from the company instead of converting his unlisted options and not even pay any money to do it! $11.20, $16 and $33 are the price targets that can take as long as 2025 to be reached. Hardly a big hurdle really. I know I wouldn't put the money up and be risked to the share price. I'd take the money minus the conversion price and taxes for a big windfall. It's a joke! If the share price gets to $50 for example he'll make a lot of money but even if it's struggling which I wouldn't be surprised, he can take the money and be free from the share price.
The listed options if the ceo converts them will cost him $56,000
Not much to stump up and create some confidence in the share price either. I expect them to convert given the human tavr trial is expected to start around October this year. Well timed! I would prefer to see you others make money from your options. Do the calcs and make sure you make some money from it in any scenario.