NorthWest Biotherapeutics Inc (NWBO)

[exwannabe]

While it's true that unexercised options aren't "shares," Market Makers (MMs) under Regulation SHO use the existence of these management options as "Locates." They point to the 2020 grant pool and tell the SEC: "There is potential supply here, so we have a 'reasonable belief' we can settle our short sales."

This is getting even worse.

A locate does not mean shares exist. It means they have found somebody willing to lend them the shares.

WHY IS LP LENDING HER EMPLOYEE STOCK OPTIONS TO SHORTS?