That structure would only make sense if the timing and likelihood of FDA M356 approval had any correlation to effort or actions of the MNTA named executive officers. I would argue that at this point, it largely does not.
So, going back to square one, why would the named officers deserve an 'incentive' for something they have no control over going forward.
I'm aware that stock options are a necessary evil because of the environment, but they really should be done away with.