Thanks GiddyYup, yes we had covered this before but I wanted to...

Thanks GiddyYup, yes we had covered this before but I wanted to clarify some things with you. Your second paragraph you hit the nail on the head for me in that you think Michelle was NOT in possession of any sensitive information and therefore could have exercised her options if she wanted to (very important).
I disagree with your conclusion in your last paragraph in which you say - we can imply nothing from the expiry of her options, indeed quite the opposite, I think we can imply that Michelle has NO faith in a successful commercial deal in coming weeks/ imminently or otherwise.
Anyway that’s my take on it.
Many thanks for your reply.