Eugene, Like many companies XICOR has an incentive program whereby several key people are given stock options rather than huge salaries. after speaking to Julius Blank with XICOR he told me that there was actually a net increase in holdings from the exercise of these most recent options. as to why do they all do it at once, quite simply the options all expire at or around the same time, therefore, the employees exercise the options rather than letting them expire. as of april 2, 1995 XICORS board adopted the amended and restated incentive and non-incentive stock option plan, at that time there were 1,500,000 shares of the companies stock reserved for issuance under the 1990 plan. since then in june 1995 and january 1996, the board approved an additional 1,700,000 shares for the plan increasing the total to 3.2 million shares. the purpose as stated earlier gives XICOR the ability to attract, retain and motivate eligible employees and consultants whose present and potential contributions are important to the continued success of XICOR. keep in mind that Raphael Klein the president and chairman only draws a salary of $265k, he makes most of his money by making XICOR profitable, thats the way it should be!!
blaine |
