For example, a business may not claim to be unconditionally owned by socially / economically disadvantaged individuals if they make that claim on the basis of unexercised stock options. (inc.com)
If the underlying stock is below $ 33 a share (the strike price) at all times before expiration, the option expires unexercised and you keep the stock and the premium. (fidelity.com)
This does not include the value of unexercised options that Marcus and Pace have. (businessinsider.com)