If I understand the filing correctly, he got awarded 50,000 options on 6/11/2011 at an exercise price of $3.13 which was the closing price per share on 6/10/2011 and 25,000 of those options are vested right away (hence the filing for 25,000 options) and the other options vest at the first anniversary of the grant (6/11/2012) and all options expire on 6/11/2014.
Nowhere does this say that he intends to exercise those options which would be crazy if you can get them cheaper on the open market at this time and would also not do much for the price as this would increase the outstanding share count as this would be shares reserved for those options and not free trading at this time.
We can only hope that the options for this guy will be worth something within that time frame as it would mean that the price per share would have to recover above $3.13 and we all want that.
Cheers,
Klaus
Disclosure: Long on NEWN
