An employee stock option is just a form of compensation. I believe these shares were not purchased on the market but in reality would be shares taken from their Authorized Share count and given to these 3 guys for their work.
I don't know for sure but these shares are often restricted for a certain amount of time. Also I don't imagine that these guys plan on dumping there new shares at the current pps. The nice thing for us investors is that obviously the new 800,000 shares Simes just got bodes well for BPAX holders because the higher the pps the more his shares are worth...w/ that said hopefully he doesn't want his 800,000 shares to be worth only about $500,000 but would rather turn those shares into a market value of about $3,200,000!
Hence the incentive of the employee options.
Nice thing about getting compensated w/ shares is you're get a much better tax rate...just ask Mitt Romney...he could explain it to you very well!
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