If I am understanding SKS time frames correctly, the previous option plan was made effective in 1998. Sks had stated that they were trying to put themselves in a similar position to 1998.
In 1998 they had about 30M shares outstanding with 500k max. a person. By 1998 share outstanding jumped to about 39M again with 500k max per person. So while technically, SKS is correct in that the percentages are similar(500k limit on 43M outstanding),he fails to mention management won't feel the effects of the 1:3 reverse split when getting doled out options.
News 
Market Data 
Discover 
