Yes thats about right. You would have been better off sending it...

Yes thats about right. You would have been better off sending it straight to the company as all the rgeistry does is send it to the company anyway. That can often save a couple of days. Then the company banks the cheque, 3 working days for that. At the company's discretoion then but oftewn they'll send in applications once a week. Then by the time the registry gets it back, puts it into the system and your broker can make the share available its usually another couple of days.

If I want the options to be processed as quickly as possible I usually harrass the company and ask them whether they've received and deposited the cheque and when its cleared ask them if they have yet sent it back to the registry.

In OBJs case you can sse an Appendix B of exercised shares once a week, so one is probably due today, which means if yours hasnt been cleared yet, it will available in a week's time.