Not to mention, let's HOPE the CEO is smart enough not to pay $1.50/share when he can buy them on the open market AND send a positive message about his confidence for far less.
I'm not holding my breath though. You can't lose any money with free, unexercised options.
That's not a purchase, it's a grant....he was GIVEN options. And he couldn't possibly have exercised them already given that they only begin to vest (become available for exercise) a year from now.