investment capital in faith of company, has both forms.
I would vote yes, as you say, there is already dilution, so why not allow those who put faith in the company, a path to see a return on entire investment.
It comes to sentiment, and good will also. If you count the number of option holders, who see their portfolios back to green, as faith in the company delivering.
Even if i wasnt an option holder, but only a shareholder, i would still recognize what the moral and good will thing is to do. Plenty of companies do it, to continue to support of their wider base of holders.
It is the tiny self serving mentality who look only in their own pots of gold, even though the dilution through CN has already knocked that to pieces, would look to self interest to vote no.