Dr. Rice's motivation and mechanism for his professional choices in the bio/pharma world is very clear and easily identified. Just read the below first sentence of his bio on the PCYC website:

....Dr. Glenn Rice has been involved with the start up and building of seven biotech companies as founder/ member of the early executive management team, which has led to a total of four acquisitions resulting in significantly enhanced shareholder value, and one IPO....

Now, consider his employment agreement with PCYC (dtd 2/2/09) and filed as part of the 3Q09 10Q (filed 5/12/09) which states specific to employee stock options:

** A stock option grant to purchase 1,000,000 shares of Pharmacyclics Common Stock. The option will have an exercise price equal to 100% of the fair market value of Pharmacyclics' Common Stock on the grant date and will have a maximum term of 10 years, subject to earlier termination upon your cessation of employment with the Company. The option will become exercisable as follows:

1. 176,000 options will be exercisable upon completion of one year of service after your date of hire. (Milestone will be completed on Feb 3, 2010, right before he resigns)

2. An additional 338,000 will become exercisable with the achievement of defined goals for the first year. The goals for the calendar year 2009 are: $30 Million raised in total funding by outside or current investors and or partners. (Milestone was completed when rights offering was fully subscribed).

3. The following 3 years of employment will also be vesting per year of employment set at 162,000 options for the year 2, 3 and 4 of your employment and will vest with achievement of the yearly goals.

4. All vesting under your option will cease upon your termination of employment.

So, after 1 year with PCYC, Dr. Rice has stock option grants of 514,000 shares @ approx .90/share. As a board member, effective upon his employment resignation in Feb 2010, he will no longer be an "employee" and therefore he will forfeit the remaining 486,000 share options.

No doubt, PCYC, its shareholders and Dr. Rice have had a win/win/win year. Effective Feb 2010, Dr. Rice will still have his board position to continue contributing his insight, knowledge and rolodex to PCYC; plus, he will be watching over his personal stakeholder position in PCYC as well as that of Pacific BioPharma Group (see below).

..... (from the FY09 10k report, p. 87) In February 2009, the company sold approximately 1.5 million shares of unregistered common stock, at $0.93 per share for net proceeds of approximately $1.4 million. The purchasers of the shares were certain foreign and U.S. individuals and entities of which some are shareholders of Pacific Biopharma Group, Ltd. ("PBG"). Each investor acted individually and did not purchase shares for the account of PBG or any other affiliated company. Glenn Rice, our President and Chief Operating Officer, is a principal of PBG but did not participate in the transaction.....

Side note.. In Dr. Rice's employment agreement his termination notification is for only 30 days. The fact he has given well over 90 day notice is a clear indicator (plus many other pieces of evidence) that he is simply moving from daily ops and in very good standing with PCYC and vice versa!!!