It might be grasping for straws but it's more a matter of timing.

I suspect that the board can't 'recommend' the Wyloo offer until BHP's 5 day window to make a counter offer expires.    If we don't see a BHP bid by next Monday morning the wording will change to recommend.    It's the same reason the tender site isn't' open yet.

The SEDI filing is for RSUs (Restricted Stock Units).   Unlike options RSUs are shares are 'given' to employee as part of loyalty/retention program.  They vest on a predetermined schedule and are recorded as the recipients income at the price the shares close on that date.  Unlike exercising options no 'money' changes hands and the holder has no influence on when they are vested/exercised.

... Been There