Replies to post #293355 on NorthWest Biotherapeutics Inc (NWBO)

[sentiment_stocks]

It looks like these "options" are based on their employment agreements, and not for the loan you mentioned, which was for warrants.

In the explanation section for all of them, it states:

Explanation of Responses:
1. These options were already approved and publicly reported in 2018. The exercise price was determined with reference to the pricing for unrelated investors at that time. However, the documents to implement and issue (grant) them have not been executed until now.
2. These options were approved in January 2020. The exercise price was determined based upon the pricing in year-end financings with unrelated investors. However, these options have not been executed and implemented (granted) until now.

And from the recent proxy (section typically in the K, but wasn't):

(1)
On May 28, 2018, we granted 39,200,000 stock options to Ms. Powers. The options are exercisable at a price of??$0.23 per share, and have a 10-year exercise period. 50% of the options vested on the grant date, and 50% have been vesting over a 24-month period in equal monthly installments, provided that the recipient continues to be employed by the Company, subject to acceleration upon the occurrence of certain achievement milestones. During the year ended December 31, 2018, a performance milestone was achieved and the Company accelerated vesting on 9,800,000 of the stock options granted to Ms. Powers. The remaining unvested portions of the options are subject to accelerated vesting upon (i) a change of effective control of the Company, (ii) the filing of the first Biologics License Application or other application for product approval in any jurisdiction, (iii) completion of any randomized clinical trial that meets its endpoint(s) (Phase II or Phase III), (iv) a decision by the Board, in its discretion or (v) the death of the recipient.
?
(2)
On June 13, 2017, we granted 3,402,935 stock options to Dr. Boynton under the Second Amended and Restated Northwest Biotherapeutics, Inc. 2007 Stock Plan (the “2007 Stock Option Plan”). The options are exercisable at a price of?$0.25 per share, and had a 5-year exercise period when originally granted (which was subsequently extended to 10 years). 50% of the options vested on the grant date, and 50% vested over a 24-month period in equal monthly installments, provided that the recipient continued to be employed by the Company. On January 14, 2018, we extended the term of the options from 5-year to 10-year.
?
(3)
On May 28, 2018, we granted 4,900,000 stock options to Dr. Boynton. The options are exercisable at a price of??$0.23 per share, and have a 10-year exercise period. 50% of the options vested on the grant date, and 50% have been vesting over a 24-month period in equal monthly installments, provided that the recipient continues to be employed by the Company, subject to acceleration upon the occurrence of certain achievement milestones. During the year ended December 31, 2018, a performance milestone was achieved and the Company accelerated vesting on 1,225,000 of the stock options granted to Dr. Boynton. The remaining unvested portions of the options are subject to accelerated vesting upon
?

(i) a change of effective control of the Company, (ii) the filing of the first Biologics License Application or other application for product approval in any jurisdiction, (iii) completion of any randomized clinical trial that meets its endpoint(s) (Phase II or Phase III), (iv) a decision by the Board, in its discretion or (v) the death of the recipient.
(4)
On August 31, 2018, we granted 2,967,065 stock options to Dr. Boynton. The options are exercisable at a price of?$0.23 per share, and have a 10-year exercise period. The vesting terms are the same as for the options granted on May 28, 2018.
?
(5)
On May 28, 2018, we granted 24,500,000 stock options to Mr. Goldman. The options are exercisable at a price of??$0.23 per share, and have a 10-year exercise period. 50% of the options vested on the grant date, and 50% have been vesting over a 24-month period in equal monthly installments, provided that the recipient continues to be employed by the Company, subject to acceleration upon the occurrence of certain achievement milestones. During the year ended December 31, 2018, a performance milestone was achieved and the Company accelerated vesting on 6,125,000 of the stock options granted to Mr. Goldman. The remaining unvested portions of the options are subject to accelerated vesting upon (i) a change of effective control of the Company, (ii) the filing of the first Biologics License Application or other application for product approval in any jurisdiction, (iii) completion of any randomized clinical trial that meets its endpoint(s) (Phase II or Phase III), (iv) a decision by the Board, in its discretion or (v) the death of the recipient.
?
(6)
The options were granted under the 2007 Stock Option Plan. 1,250 options vested each month until May 31, 2013. In addition, 6,250 options vest upon each of Swiss Approval, full Enrollment in Phase II Glioblastoma Multiforme clinical study and FDA approval of NDA.
?
(7)
The options were granted under the 2007 Stock Option Plan. This option grant vested over the balance of 2009 with 7,813 options vesting on the grant date and the remainder of the options vesting on December 31, 2009.
?
(8)
On June 13, 2017, we awarded 7,940,182 options to Dr. Bosch under the 2007 Stock Plan. The options are exercisable at a price of??$0.25 per share, and have a 5-year exercise period. 50% of the options vested on the grant date, and 50% vested over a 24-month period in equal monthly installments. On January 14, 2018, we extended the term of the options from 5-year to 10-year.

https://www.sec.gov/Archives/edgar/data/1072379/000110465920039528/tm2013863-1_def14a.htm

Looks like something biggish is up, and although I could very well be wrong, it appears some sort of milestone has been reached.
Or... it falls under the (iv) reason and it was simply a decision by the Board at their discretion.

Not sure which.

[MI Dendream]

The bigger picture here Jerry is that she and the other C suite execs have been scarfing up as many shares, warrants and options as possible. Does that sound like a company that expects to fail their Pending pivotal trial Or one that expects success?