Both of the options were issued at market price at some date near the date they were issued. These options were issued and good for a 10 year period so the math is simple. The real difference being only how many options were granted.
If each stock increases in value by $10 a share Ken Lewis would have options worth $2,000,000 and John Allison's options would be worth $2,530,000.
Thanks. I have worked for manufacturing companies who gave out stock options as a part of executive compensation. The options were never given at market price - always at a discount. And the discount varies by company.