Wave Systems Corp. (fka WAVXQ)

[UncleverName]

keV, you might take your own advice. There is nothing in the ESOP language in the DEF 14A that indicates the options would be reissued to an individual employee.

The reference you quoted is under the Director Plan and the section is

II. Amount of Stock Subject to the Plan

It means that if the options expire or terminate without exercise they can be reissued - recycled, if you will - the maximum number available is not reduced by expired / terminated options.