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Technology Stocks : Ciena (CIEN)
CIEN 230.90-6.2%Jan 5 4:00 PM EST
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To: Ibexx who wrote (11834)2/18/2002 9:41:43 PM
From: Sr K   of 12623
 
ONI had one of the most ridiculous options plans I've seen. For this alone, I'm glad that got squeezed out.

"In addition, on January 1 of each year, the aggregate number of shares reserved for issuance under our 2000 equity incentive plan automatically increases by a number of shares equal to 5% of our outstanding shares on December 31 of the preceding year."

Edit: And, Martin got ~4,780,000 of his shares for $.005 per share, payable as Notes at 6.13% interest. Back he goes to investment banking, I suppose. But I'd be wary of being on the other side of any of his deals. CIEN should probably pay no more than 2 x cash, so I think they're overpaying. Plus the investment banking types in ONI will be sellers to turn this into cash.

Just IMO.
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