common practice Nemo.
I don't agree with it, but it happens every single day in corporate America.
Stock options are a big form of compensation and have been for a long time. You get them dirt cheap and can exercise them whenever you feel the time is right.
It's not illegal and is a way for a top notch exec to get compensated when the company does not have enough cash to simply pay you what you are worth.
As a stock investor it pisses you off.
I agree with you from your perspective. It sucks.