ENTA’s CSO has done the same thing on a smaller scale—he exercised and held stock worth approximately $4M last Friday: http://www.sec.gov/Archives/edgar/data/1177648/000090866214000021/xslF345X03/edgar.xml As with Jay Luly’s transaction (#msg-95887112), the options exercised by the CSO did not expire until Jul and Dec 2014.