Good points - we can't ignore the accumulation.

I don't think Richardson(s) could accumulate options on the market - I don't believe there is any market for the options.  I believe they are granted by Kodiak to directors/officers/senior staff, so I wouldn't count them in "enthusiasm" or "commitment".  But the open market shares cost real money, and this is one of the "smoking gun" "WTC 7" items that just can't be explained away.

If Kodiak doesn't have the goods (I think it does) I will be scratchin the hair right off my head wondering for a way to explain the Richardson accumulation.

I think I'll be keeping my hair.