They are requesting adding 2,500,000 shares to the option pool, which, if fully granted, would result in a new 2,500,000 shares out of about 60,000,000 currently outstanding shares (40,000,000 outstanding, and 20,000,000 or so in warrants and options). So, the additional shares represent about 4% dilution.
A further note....in 2006, Stoll got options for 300,000 shares representing a value (black sholes) of just over $500,000. That doesn't seem too out of whack for executive management these days.
Note: I'm not a schill....I realize $800K+ per year is a ton of compensation...it's just not out of the ordinary these days for CEOs.
Final note: As to timing, proxy statements usually come after the fiscal year end and before the annual shareholder meetings. Ammendments to option plans require a shareholder vote, which most companies undertake with their annual proxy votes. Most 12/31 year end companies issue proxies and make similar requests at this time of the year. I doubt there is anything relevant in the timing other than it is just that time of the year.
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