Fairness is not an issue.
The fact is that options have done next to nothing for PPHM management because the stock price has not moved, making the options worthless. That's the way it's supposed to work.
The only question is, do you continue to use options as an incentive? Are they likely to be effective going forward? Do they meet objectives? Do they, for example, attract management talent? If so, continue to use them. If not, find another way to reward success.
But let's stop with all the "fairness" crap. It's like listening to my grandchildren whine about who got the biggest helping of ice cream...
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