Options (the right to buy stock for a specific price after a certain period of time) for 1,900,000 shares were given to current Aurora employees at a price of CAD $2.76. So, say a random Aurora Manager was awarded 10,000 Stock Options. Those options expire in 5 years, so the company is saying "for your hard work today, in several years when our stock price is higher, you'll be able to buy shares for CAD $2.76". So say the ACBFF is trading at $6.00 in 2019. These employees will be able to get shares by paying the company $2.76 per share.
Not sure when that happened, so I don't know if these extra 1.9M shares are already included in OS or not.
Back to our example Manager. In the next 12 months, she will have the option of buying 3,333 shares at CAD $2.76. In 24 months, she will have the option of another 3,333 shares. Ditto in 36 months. Regardless of when those vest- 12, 24, 36 months- they all must be used within 60 months.
The second part is about Restricted Stock Units. 2,007,110 special options will be issued subject to a shareholder vote at the upcoming annual meeting (you will get to vote on this via the proxy package).
RSUs are like regular Options, but they have to be held for a longer period of time and they have additional restrictions like you have to still be with the company to exercise them and/or you can't have been fired. This is to entice employees to stay on for longer periods of time.
I'll be voting for the RSUs when I get my proxy pack. I think it's great for moral and in my experience people work harder when they have a piece of the action.
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