please mr cook, can i have a dividend?, page-15

BrentStory

minerva said benefit option holders "more".

If we stick to your example lets say the options were $1. The shareholders in your example are ahead 12.5% ie $2.00 to $2.25, but the option holders would be ahead 25% ie they have to pay $1 but SP is now $2.25. The value of the options have gone from $1 to $1.25 or up 25%.

I guess that's what minerva means, but I'm sure they can explain it better than me.

cheers