I assume you all understand that a cashless exercise used by these execs paid for the option exercise it just means that the didn’t put out up front cash for the exercise.
In essence some of their shares were immediately sold to fully repay the short term loan they got to exercise the option plus usually some transaction cost earned by the broker that provided the short term loan.

CytoDyn did receive cash from the warrants.

The execs just receives less shares due to the need to sell some of the shares to pay for the exercise whose proceeds went to the CYDY.

IMO