Exactly, and therein lies the problem with approving 5 million more options:
"I believe the only way options would issued at $4 and $5 in the future is if the share price goes back down to those levels again."
Once 5 million more options are approved, it is in the insiders best interest to have the stock price go back down for the issuance of those options. Those who claim approval of insider options align managements interests with those of shareholders have failed to consider the option grant phase of the cycle.