an exercise-and-hold-all-shares is a significant signal to the informed investor
In this particular circumstance it's somewhat less of a signal though. The option is so deep in-the-money (strike price $0.61) that with only a bit more than a year to run and interest rates so low he is giving up literally only a couple of cents in time value by exercising now. In other words the option pretty much acts the same as the stock from a risk reward perspective - its delta is very close indeed to unity, so a dollar change in the stock price produces very close to a dollar change in the value of the option.
On the other hand, by not selling he is clearly giving up a chance to diversify, so it still is a positive signal.
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