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I don't think it's silly at all. We see this company behavior so often that it's insidious nature becomes acceptable and normal and beyond shareholder control. It's like making a wager in summer that it will get cold in winter. Execs give themselves options in full personal knowledge they won't be leading the cause by the exercise date but don’t want to miss out on their successor doing better (or worse) than themselves. If they come into the money, they do whatever they want including buying then selling them to leave themselves with free carry. If they don't come into the money and they still happen to be employed, they just reissue options to themselves with more likely conditions for the future. It's a disgrace. There's no disincentive or penalty for poor performance as they reset the price and amount themselves. There’s only reward which is disconnected from performance.
Thankfully, CG has made it clear that she believes in demonstrating perfomance first, then reward. Honest, clear, deserving. Hopefully this will hold up, time will tell.
And before the Diamond sympathists start hollering, he was there for 20 years, did his job and was rewarded handsomely. Plain and simple, just like any of us that work. No ex-employee of any company needs or deserves praises to be sung ad nauseam. He also played the option game over and over which resulted in financial position most would envy, he's doing just fine. So perhaps keep your tears for those boys and families that have been waiting for the change of guard and let's prepare and acknowledge reward for those that get this done.