I don't believe that there is any mystery here, if the shares are held in a margin account where the brokerage can use them that way, we're all equals. I don't believe that anything prevents someone working for the company not to profit in ways that other people can. On the other hand, if the person has inside information about the company often can't buy or sell shares like normal investors, but during certain periods when nothing special is happening they can purchase or sell. Most officers and employees get most of their share from options they're granted for working for the company. I'm uncertain if those shares can be put in a regular margin account when options are converted to stock, but if they can, they too could be lent and gain interest.
I'm sure that NWBO employees have gained many shares by options over the years. With IMGN being bought out, all the employees options are vesting prior to the buyout, many multi-millionaires have been made who'll probably never need to work another day of their lives if that's what they choose. No doubt many of the options couldn't have been executed for many years, but being at the right place at the right time has made them very wealthy. I don't mind if the people at NWBO get very wealthy as long as we're getting wealthy too. In a buyout, I feel quite certain that all options, regardless of their restrictions, would instantly be converted to stock and no consideration would be given if the total outstanding exceeded the authorized, they'd all be authorized at that time.
Gary
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