Good point gamblor77 - the one advantage of the options is that it puts the management on our side.

It hurts indeed because before I climb out of being underwater, management will have made a pile of money.

The options were split among at least 4 people, and I'm sure Darren Lindsay got a lion's share of that, as part of attracting him to KXL. The salaries paid by KXL are good ones, but of course not a salary for Barber on the board.

It's a done thing. We have the chance to vote on it every year, but we'd be outvoted, and we'd likely support some stock options anyways. At least 50 cents is being considered a floor. Interesting - when you look at the stock price over the last month, KXL would have had to wait carefully for it to drop enough to allow 50 cent options to be slightly out of the money: