If 20% control 91% of SOI and hence 91% of oppies, would you trust them to be smart and exercise the loyalty options which are in the money by a large margin plus get 3 piggyback options which are also in the money but don’t have to be yet exercised? It is a no-brainer way of not only contributing to furthering the patient’s and SH’s own cause, it is also to prevent dilution and increasing exposure to the potential upside. I don’t think Dr.T stays awake worried about the oppies being exercised at the current SP.
Ann: Quarterly Activity Report & Appendix 4C, page-37
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