Of course they will be. Do you honestly think you will be able to cash out on them and sell sell sell?? If 100, 200 or 300 or 400 shareholders all want to cash out on their 100,000 right away, what do you think will happen to the share price? It will come crashing down. It will be like people running for the exit in a burning building. Everybody will want out. But that ain't gonna happen. Also, by the time you will try to sell your commons, the stock price will have taken a brutal beating. Not to mention, nobody will want to buy 100,000 shares of this company anyway at an inflated price.
See, to me, this still says very clearly that the converted shares will be restricted for 6 months.