Liquidmetal Technologies Inc (LQMT)

[Scandle34]

It means that he was awarded incentive stock options at current or higher prices, valid for a period of time as long as he stays with the company. IF the company gets to a value, he then exercises the options. If he waits a year to do so and then holds the shares a year and if they were formally qualified as ISO he gets a better tax treatment, but either way they are an incentive to make the company worth something. Typical approach of a company that cannot pay cash bonuses.

disclaimer - other than buying stuff from them a decade ago, I know nothing about the company and have no plans to invest in or post about it at this point. Just answering the options question.