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Under the terms of the agreement, as amended, Editas may exercise the option with respect to a designated initial indication until September 30, 2018.
If we don't exercise the option, then we risk losing him for nothing.
In other words, the "option" concept of triggering income at the discretion of the employee must be eliminated, and the employee will exercise the option on the passage of a specific period or on attaining an objectively determined event (e.
The most conservative strategy is to exercise the option when the employee is prepared to sell the stock, which eliminates exposure to loss of the exercise price.
The team had until today to exercise the option, which they obtained as part of the Doug Christie trade in 1994.