This member has no idea commenting about the 300 million shares. Makes you wonder how these people make decisions about their investments, haha.
As I understand, Zeta is still fully committed to PAN, small decrease in holdings is to fund current commitments in other businesses.
If Zeta really wanted out, given the size of its holding, they would simply sell its holdings off-market in a private arms length deal (Which further reinforces the fact that Zeta was only selling to fund the said).
While I add, exercising the options will only bring them close to their original holding (the total before the decrease).