[maerF0x0]

Access/control is the only reason I can come up with.

Access: One often doesnt have an option to buy shares in a private company besides the granted options.

Control: If one had 49% of share and options as you described for 2% one could take control of the company? Extremely edge case.

She could hold them until just before the expiry to see if they do bounce back in the window.