Golf, I hope you read my post correctly, where I said $5 was silly talk.
As far as the $15 number, I think that was put out there to appease shareholders. It has no formal relevance, even for Holt's stock options. It will literally NEVER come into play. The company will be sold long before Holt ever exercises an option, and then he will get all 5M options vested upon the sale, regardless of price.
Denner is very good at reading shareholders. He showed that during the proxy fight. He's like a politician. Just a demagogue.