Warren Buffet wantabe, what "rule" could they possibly be breaking when they were simply exercising their RIGHT to redeem their options before the expiration date? The very point of having an option is that it gives the option holder an incentive to own stock in the company at a below market price. But options have expiration dates, and if they are not exercised by those dates, they expire worthless. Also, at the time of the exercise, the current retail price, the strike price, must be ABOVE the option price, or there would be no point in exercising that right to buy. My understanding is that two VP employees held options to buy VPLM stock at $.005/share. However, those options were set to expire on 6/1/24, and if not exercised before then, they would expire worthless. So, in essence, when those employees were selling at $.015, they were actually buying back the same number of shares at $.005. It is a perfectly normal and customary business practice to give employees an incentive to own shares in the company at a reduced price, through the granting of options. For the benefit of all readers, could you please cite the specific rule violation that you are alluding to?
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