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Your assumption is likely close
I would add that the director isn’t 100% sold, but likely has gotten the approval to make an offer over the phone if he agrees to bring you on. This has happened to me in the past.
Interview with manager + VP, I get a request a day later for just a phone call with the VP, we chat for 30 minutes, mostly culture aspects, and at the end he gave me a verbal offer
..with me. Not sure why - I’m convinced the research manager (my future boss) loves me after all these rounds, but met the director for the first time during this call. I’m hoping it’s not because they’re disagreeing about whether they should hire me so he wants to know me better....has anyone been in similar situations?