"These are options. The 9k is the current dollar value of her options (a ill more today). She did not buy out of pocket. "

If you have a Stock Grant you usually don't have to find cash out of pocket - except for an 83(b) election, the value is taxed (in the case of Restricted Stock) when it vests.
http://personal.fidelity.com/products/stockoptions/rstockawards.shtml

If you exercise stock options, you must at some point pay the "strike" price (i.e. 10c a share option) to acquire the underlying shares (exercise). Taxation depends on various factors, including the type of option.
http://www.irs.gov/taxtopics/tc427.html

Typically you would only exercise if you think the value will exceed the strike price at some point in the future. Conversely, if your options are about to expire but are "underwater" (i.e. the strike price is more than the current value) then typically you would buy on the open market (at the lower price) and let the options lapse.

The question is: "Why have the other BOD members not yet reported a similar exercise."