I don`t know if you`re on the right track or not, but it`s certainly an interesting idea. What leapt out at me was the issue date -- 2/28/06 -- and the exerciseable within 60 days part -- which, as I pointed out, butts up against the SHM. I cited Johnson`s 800k+ shares because those were ONLY the ones he had, and all were issued 2/28/06.

Could be a swap-out of options, or it could be something else. Whatever that something is, however, might not be known until 1 day left to exercise deadline. Not that that`s bad; might work out positively. But the timing of all this doesn`t strike me as a coincidence.

Thanks for your thoughts. Regards to you, as well.