This C2H approach seems to ignore the fact that companies have a genuine preference for paying with stock options that they can pay for by issuing new stock rat

This C2H approach seems to ignore the fact that companies have a genuine preference for paying with stock options that they can pay for by issuing new stock rather than expending cash on hand in the US, something which can be a scarce resource at times given a combination of cash flow situations and US tax law. Stock options on short-term contracts tend to be less feasible.