What does the following chart mean? My interpretation is that the management at Connacher have all cancelled the options that were awarded to them during the latest share sale. Is my interpretation correct? If so, those who complained about management getting double the number of free shares should be happy as management did the honourable thing. If not what does this information mean?

http://www.canadianinsider.com/coReport/allTransactions.php?ticker=cll

Connacher Oil and Gas Limited (CLL)	As of July 9th, 2009
Filing Date	Transaction Date	Insider Name	Ownership Type	Securities	Nature of transaction	# or value acquired or disposed of	Unit Price
Jun 30/09	Jun 26/09	Seth, Chand	Direct Ownership	Options	38 - Redemption, retraction, cancellation, repurchase	-324,000
Jun 30/09	Jun 26/09	McGregor, Stewart Donald	Direct Ownership	Options	38 - Redemption, retraction, cancellation, repurchase	-324,000
Jun 30/09	Jun 26/09	Marston, Stephen Adair	Direct Ownership	Options	38 - Redemption, retraction, cancellation, repurchase	-90,000
Jun 30/09	Jun 26/09	Kines, Richard Robert Joseph	Direct Ownership	Options	38 - Redemption, retraction, cancellation, repurchase	-510,000
Jun 30/09	Jun 26/09	Sametz, Peter D.	Direct Ownership	Options	38 - Redemption, retraction, cancellation, repurchase	-750,000
Jun 30/09	Jun 30/09	Kennedy, Jennifer Kathleen	Direct Ownership	Options	38 - Redemption, retraction, cancellation, repurchase	-81,000
Jun 29/09	Jun 26/09	Bessell, Donald Hugh	Direct Ownership	Options	38 - Redemption, retraction, cancellation, repurchase	-324,000
Jun 26/09	Jun 26/09	Evans, Colin Michael	Direct Ownership	Options	38 - Redemption, retraction, cancellation, repurchase	-324,000
Jun 26/09	Jun 26/09	Gusella, Richard Allan	Direct Ownership	Options	38 - Redemption, retraction, cancellation, repurchase	-1,620,000
Jun 24/09	Jun 18/09	McGregor, Stewart Donald	Direct Ownership	Common Shares	51 - Exercise of options	10,000	$0.660
- Amended Filing

Best Wishes; Scott