Ann: Bonus Options Issue, page-27

Definitely in the interest of KRC to have their SP as high as they can June 30 to take advantage of the 25% premium to the 5 day vwap prior to June 30. Higher the price, the higher the exercise price set. The higher the potential money coming in.
This will determine the exercise price of our bonus options and we will know this at close of trade 29th June.
Then we have until 2020 to bring further good news to have our share price rise more than 25% from exercise price for them to be in the money.
Just a brief view of how i see it.