GM: Resolutions 1 - 7 Opinions/Thoughts, page-17

It is.

Personally I have no issue with the option strike price. I have an issue with the quantity of options and also with the vesting conditions, but ultimately it is not really too big of a deal. I voted yes to all resolutions after some consideration.

I mean they could buy on market right now for 38.5. It is a one way bet for them, true, but it is a direct incentive to perform - the more value they realise the wealthier they become. Besides, if they are smart they will convert and hold the heads for the long term.

They will likely not convert imo until the contract is close to expiry date anyway. This ties up none of their personal cash and gives them maximum exposure to BGS, which they will most certainly want. They will be working here hopefully for 2-3 years, and once we begin producing we will be worth much more - 400-800 million more.