Just to clarify (correct me if I am wrong) the management is granted these options so they only have to pay the strike price. So they would be in the money straight away and they can sell the heads rather than let the oppies expire.
Unless someone like me bought oppies above 1.5c and strike price of 4c which makes it 5.5c, then they would be converting unless they don’t have money to convert.
IHL Price at posting:
5.5¢ Sentiment: Buy Disclosure: Held