Ann: Options Offer Closes, page-8

In the pursuit of fairness to all eligible applicants of the replacement options, the shortfall should first be distributed fairly. This approximately equates to that for every 3 replacement options applied for, 2 shortfall replacement options are available. Provided that they have been applied for. This will be the first step of fairness.
There will be some that have applied for more and some that have applied for less. Thus there will be some shortfall replacement options remaining from this first division (remainder options). These remaining options have to be addressed with caution.

I do not believe that there will be many replacement options remaining. These should be then divided proportionally between those that applied for more than 66% of their initial entitlement. There will be so few left at this stage that it will be pennies in the scheme of things.

Contra to this fairness, the BOD cannot be seen to be feathering their own nest at the expense of shareholders. They have far too much to lose over even a $100k.