I would think that the Modus of his Operandi is variable, based on the specific company. Variables such as the value of assets (Voclosporin), financial reserves, the state of the market in general, current MA activities, and no doubt there are others.
If he did not consider these important aspects of the company's value, he would be a fool, and there's no indication that he is (a fool I mean). The value of all those options he's handing out depend on the sale price.