The earlier of August 15 OR 3 months after he ceases being an officer or a director. He is still on the BOD, therefore a director, so the options will expire on the earlier date; that is, Aug 15. It'll cost him around 250K to exercise them. And he'll have to file the form by mid-Sept.  If he exercises and sells at today's prices, he'll clear a little under a half-mil. Will he or won't he? Only the missus knows.....

And SGE -- thanks to you, too, for your reply. I'll try to look up that phrase/announcement re: not having to announce. But I'm pretty sure they meant not having to announce AT ALL, not just dollar amounts. License signings are now considered by the company to be a routine part of their business, therefore not extraordinary events requiring news release. Or so I thought. But I'll check.