I'd be willing to bet that your takeover speculation is just that, speculation. This company will not be sold in the next 2 years. I'd bet big $$$ on that. These guys don't want to make $5 million dollars upon a buyout. They want to make $50 million. Also, as it stands, the executives will continue to have shares vest from now through 2018. If they sold the company, they would immediately be let go by the acquirer.
Pyatt's 564,080 shares are worth roughly $7.6 million today.
He know's that if he holds on to the company, grows revs to 2 or 3x their current levels, thatt $7.6 million could easily become $30 million + in a few short years (especially considering that his stake will continue to grow through compensation).