Sophist, bet that you will agree that it's no surprise when a group of folks look at the same set of events and then report seeing very different things. Some of us looked at InterDigital's statements about acquisitions(and the creation of an executive to make them happen), the cash surplus being forecast in the near future that would certainly fund those acquisitions, and the proposal for 5 million additional options as all being part of the same thing. It's pretty clear that some others saw something else altogether, and that they did not like what THEY saw.
In the buyout of a technology based firm a whole lot of the value is in the engineering talent employed there. If you do not manage to retain most of the top folks when you buy a "braintrust" you will get short-changed. Gotta have plenty of fresh ISO options to make it a "no brainer" for the whole team to come along in the purchase transaction. So, lots of new and additional revenues(i.e., "value") would come along with the extra 5 million options management is proposing.
Anyway, THAT is what some folks who trust management and listen to what they tell us saw. Go figure what some others are doing invested in a company when they obviously do not trust the management.