Bio, you hit the critical point - not all option packages automatically vest upon sale of a company, belive me, I've owned options that did not.
So, to me this new package for Deitcher and Carlson appears to be to keep them motivated in driving Talon forward, hopefully to a sale or very lucrative deal with big pharma. Let's face it, the investments in Talon by WP and Deerfield, which was critically needed, have increased the dillution of the stock substantially. This has had a negative affect on senior mgt's stock holdings, as well as all retail investors holdings. Perhaps this was meant to help fix that for Deitcher and Carlson.
The good news is that the options are set at .64/share, and if you remember, the last options were set in the .90+ range which means to me that should Talon be sold, the price should be substantially more than the average of the two packages.
Just some thoughts...
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