Max, Manuso has been consistent. Those options would have expired on March 8th. Either he could have pulled a little over $98,400.00 out of his bank account to purchase the 40K shares at $2.46, then held onto and sold them later ... OR ... he could have done the simultaneous exercise/sale like he always does and pocket a quick $78,400 (40K x $1.96). Seeing as he is already overpaid and gets more options every year, why not take the quick cash. I'll bet his financial adviser is telling him the same.
That said, it would have sent a message about where this stock is headed if he would have pulled the $98K out of his bank account to purchase and hold. I'm just glad his kid still owns 10 shares, ha ha ha.
I'm still long. liked how we inched back today after monday's pullback. still expect a run up prior to AACR and ASCO