Laurion Mineral Exploration Inc. V.LME

Nick Exercised 788,882 options

[mithril56]

Fresh in on SEDI insider report.  Nick exercised 788,882 options on September 28, 2023 betwen $0.17 and $0.23.  Talk about a vote of confidence!

[StevenHunter]

So there's your confirmation everyone!  If you are out of love with a stock you don't pick up 800k more shares of it.  I'm telling you, Nick just wants to hit the next phase of his life.  He couldn't be more committed to Laurion than he is. Thx for the quick detective work mithril, you beat me to it!  -Steve

[ahsineeg]

Wow. I just looked it up. He spent OVER $160,000 to exercise the options. This is much more exciting and significant than Cynthia exercising her options last year. Those options were 5 and 10 cents. 

[newbie8484]

I don't really know how this works, but can he not sell them now and we wouldn't know and he like tripples his money anyways?  I mean, sounds like a good deal for him right now with current share price?  But I don't really know how that all works!

[StevenHunter]

If he tried to sell the 800k shares he just bought then he'd get $0.20 for the last lot of them and that wouldn't go over very well with the other 6,000,000 he owns. Make no mistake, this is a strong vote of support from a recent board member who wants to own more of this company.

[matlas]

The timing of the exercise could be indicative of an expectation of a price jump to come soon. After all, he could have just waited until the BO. From a tax perspective, the end result is essentially the same if he exercises after the price jumps. In that case, he will have an employment income inclusion for excess of FMV over exercise price, but an offsetting 50% deduction for which he should

[Wmaver]

A lot of people are assuming tax means everything.    Sure u hate paying taxes, but if I were set to make over 50 million dollars, I wouldn't sweat a few million in taxes..... Taxes suck.  But they don't drive everything.

[StevenHunter]

Any way you slice this transaction it's positive.  As he leaves the Board there are unvested options that must be exercised or he loses them.  The fact that he wants to pay to own them is an overwhelming sign of strength. If he has any vested options he has 90 days to exercise those so we'll see about those in the next 3 months. Bottom line : someone from the inner circle is

[matlas]

Nobody here is "assuming tax means everything" Wmaver. I am not sure where you are getting that. But, even if you are making $50 million, and you can save a few million dollars by adopting a smart move, a prudent person would do that if there is no significant offsetting downside.

[Smitty64]

I’m in a similar position as newbie in regards to not understanding the intricacies….hoping some of the OG’s can explain why this is such a positive. To my understanding: Nick leaves the board When he left the board he had 788,882 options that would have disappeared if he chose not to exercise (buy) them So, he buys them for $160,000 If he wanted to, he could now sell them for 4x

[DAM$]

I was elated when I read that Sedar release. This is the kind of news we want to see coming out.   I thought that it would put all the doom and gloom of a Director quitting out the window, thinking that he’s going to sell his 6 million shares. He actually had 836K options and almost 67K warrants so he still has more he can exercise. As I have said, Many times before, you can’t just sell

[gfdgdfgd]

He could also simply sell and take some profits at this point in time to hedge against the downside. Based on what's been said, he also no longer needs to report if he sells shares or not. If he still believes there's a possible buyout, he still has 6,000,000 shares, which by the people on this forum it's potentially 60 million dollars + or hundreds of millions. 

[matlas]

I meant wait to exercise Smitty.

[mithril56]

For those wondering who has how many options.  Here's the summary LME put out in their most recent Statment of Executive Compensation available on SEDAR+ dated June 29, 2023.   Nick has now exercised all but his 18,106 options @ $0.55 and 29,000 options at $0.82.  The 82 cent options currently have NO value, and will only be exercised if the share price gets back above the