It seems that the free share options granted to those directors...

It seems that the free share options granted to those directors and executives (except for those Australian based directors) no longer give the underlying shares free? From the last few SEC filings about the grant of free share options, there was an exercise price (of $4+) attached to those share options to purchase the underlying shares.

Am I missing something?

for example,:

http://investors.biotapharma.com/secfiling.cfm?filingID=1209191-13-41023&CIK=72444

http://investors.biotapharma.com/secfiling.cfm?filingID=1209191-13-24042&CIK=72444