Stock Options - Steve forfeited 250,000 optionsSeeing the SEDI reports confirming that Cynthia has excercised some of the options she announced she would be exercising prompted me to look up how many LME options are outstanding.
Interesting observation,
Steve forfeited his 250,000 options at $0.40 when he left in February. The vesting schedule is 1/3 of the options become exercisable every 12 months (all options exercisable after 3 years....or immediately if the company is bought out). So none of his options were exercisable when he departed in February.
So for anyone worried about the company handing out options left, right and centre to IR consultants....you can sleep better knowing that Steve's options were cancelled and reissued at $0.45 to Doug.
