Yes it's dilutive for the shareholders of course. I hadn't bothered reading those 3X notices. There is a massive number of these unlisted employee options, and assuming they're being exercised before expiry dates it is suspicious activity. Taken together with the three directors who have sold shares earlier it will not be a good look at all if the Teresa sale does not complete. It could even be read as another signal that Teresa will not go ahead.
It would certainly be a downward pressure on the share price if the exercised options can immediately be sold as shares, which I would assume is the case. You would have to guess that selling the subsequent shares is the motive for heavy exercising of the options, but I don't know the expiry date on them yet. If the options are just reaching their expiry dates it's another matter.
Looking a bit shabby.
LNC Price at posting:
$1.57 Sentiment: None Disclosure: Held
