Jerry does not have any options exercisable at $0.01 a share. If he did, he would be an utter fool for buying AMD stock at $7 a share when he could have bought it for $0.01 a share.
I may be mistaken, but I don't think directors can get any $0.01 options. They are generally used in very modest amounts to compensate non-employees for board membership.
If you know different, please provide a link to prove it.
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