See jw83jw post.

FACT: the prices for Private Placements, Options etc. are established well before they are granted.

I do not know the specifc timesframes, or mechanisms within the market, but suffice it to say they are based on an average price.

If you want to grant options you want them at the lowest price to reduce risk and maximize retrun. This is common place and I have seen it with many shares whereby a price is "maintained" with a range until the options are set.