he gets to keep ANY of those shares, the CERTS have to be re-issued in his name so they can be DUMPED, I mean sold, into the market.
Surrender doesn't mean canceled. It means surrendered. The TA keeps the surrendered CERTS on file, and they will have VOID written across them like these when Norm was no longer the President of TEMN.....BUT NEW CERTS WERE ISSUED, and are the ones, in part, in question. Or were.
I know now per the PR by Alonzo Pierce. Cook will take them to Victory Partners and Victory Partners will exchange them for restricted common stock and then the one billion common and 60 preferred shares will be canceled.