I have no idea if this is correct or not but would it be possible for Allan St. James to be associated with a managerial position simply because of the number of stocks that he holds. If that were the case then management may not approve of his methods but wouldn't be able to do anything about it. He may have enough shares that selling a few at whatever price may not mean much to him.

As far as Options are concerned, I've exercised options with other companies and was never aware that you could exercise them once they were in the money without paying for them and only receive what was left over. News to me. Good to know.