I personally do not have a problem with SKS being issued new options. If the price of the stock does not go up, he has gained nothing. If it does go up, His work as CEO is an important contributor. The tone of you post seems to imply that there is something sinister about granting new options to SKS and by extension other Wave managers and employees. I just don'r think this is the case.
keV, you might take your own advice. There is nothing in the ESOP language in the DEF 14A that indicates the options would be reissued to an individual employee.
The reference you quoted is under the Director Plan and the section is
II. Amount of Stock Subject to the Plan
It means that if the options expire or terminate without exercise they can be reissued - recycled, if you will - the maximum number available is not reduced by expired / terminated options.
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