RE: Grant of options to PierreFinally an example:
Suppose options at 1.00 for 3 years from now.
In one year, shares are at 2.20. So, he can exercise his options.
He change them for shares for 1.00 each and he can keep or sell them.
An other example:
Suppose again options at 1.00 for 3 years from now.
At the end of 3 years, shares never up at 1.00 but believe at .60
Options are null at expiration of 3 years.