The way it reads seems to indicate there was a net positive...

The way it reads seems to indicate there was a net positive value between the exercise price and the sale which was then used to convert the extra options to common stock which have then been kept.

I can’t however correlate this because the share price on that date was lower than the exercise price.

If they decided to just pay for the ones they ended up keeping then the rest should have just lapsed which didn’t occur. There’s no way they paid to convert all the options only to lose money on the vast majority.

To me it need further clarification