It is just options granted to key employees.

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At the Board Meeting, incentive stock options were granted under the Company's stock option plan, to certain directors, officers, key consultants and employees of the Company to purchase up to an aggregate of 1,563,000 common shares, representing 0.86% of the outstanding shares of the Company.

Of these options, 9.1% were granted to key employees who are the technical staff related to the POET effort, 7.7% to the Company's officers, 51.2% to the non-officer directors and 32% to directors who are also officers. The stock options are exercisable at a price of CA$1.54 per share and expire June 12, 2020. The options will vest and be exercisable on the basis of 25% on the 6-month anniversary of the date of grant and 25% every six months thereafter.

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the Company to purchase up to an aggregate of 300,000 common shares, representing 0.16% of the outstanding shares of the Company.

Of these options, 8.3% was granted to an employee, 8.3% to an Officer of the Company and 83.3% to a non-officer director. 250,000 of these options are exercisable at $1.54 per share and expire on June 12, 2020 and 50,000 are exercisable at $1.08 per share and expire on August 13, 2020. The options vest in stages over a period starting on December 12, 2015 and ending on August 13, 2017.