I apologize for the error I made in the original post.

I reported that Fred had 1.650 million options. After additional research, I found that one of the SEC document 4 replaced a prior document. They changed the option total from 650k to 500k and I had included both in my calculations.

I also incorrectly stated that Eric had only 300k options. After going back an additional year, I found another document 4 granting him 300k options. Therefore the total equals 600k options.

I was concerned why the amounts between the SEC document 4 was different from the SEC document 14A. I continued to research the diffference and resolved the issue based on the above comments.

There is always an explanation, sometimes one must dig deeper into the process.