If Geomechanica has issued, or might issue, options to you or to employees, this is the closest thing in the edition to your own situation. A Canadian-controlled private corporation gets treatment US companies do not: under section 7, the employment benefit on CCPC options is generally deferred until the shares are sold rather than taxed at exercise, and a 50% stock option deduction may apply where the two-year holding condition is met.

The transferable lesson is the one Snowling's form shows in plain sight — expiry dates make decisions for people. Any option grant with a fixed expiry eventually forces an exercise at whatever price happens to prevail.