Thanks to you and Pumpty for the comments, and I agree.
My interpretation of the wording in the notes is that she can direct him to exercise and/or sell at anytime within 30 days of 8/23. I wonder if her selling requires the filing of a Form 144. I bet it dosen't. If she sells next Monday he/she probably wouldn't be required to report it until the end of September or even the 10th of October, right?