If that were the case, they wouldn't have had to write "divided by Market Price", since it would already be known.
You're almost there. Of course the Market price is know , it's .075. But they can not buy at this price until, the market price is .075 that's where the Exercise price comes in of .075
And then they have up to 5 years to purchase shares at .075 as long as the share price is .075 or above.