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Technology Stocks : Intel Corporation (INTC)
INTC 37.83-4.3%Dec 12 3:59 PM EST
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To: Maxwell who wrote (62242)8/10/1998 6:43:00 PM
From: Srini   of 186894
 
Article on Jerry's stock options in todays's WSJ

W.J. Sanders III
Advanced Micro Devices Inc.

HIS GOODIES: Mr. Sanders benefited from a move
shareholder activists loathe: lowering the exercise price on
options as the stock sinks. AMD, a big Silicon Valley
microchip maker, did just that for his options, five times
from 1985 to 1990. Repriced options were among those the
company co-founder exercised from 1993 to 1997 for a
pretax profit of $28.3 million.

In 1996 he received 2.5 million more
options. The company landed on the
latest list of nine worst performers in
the California Public Employees'
Retirement System's U.S. portfolio.

COMPANY'S RATIONALE:
Following investor pressures, Mr.
Sanders and other top officers haven't
been eligible for option repricing since 1993. AMD says
the 1996 award was part of his contract renewal. Half of
the 1996 options come with a performance incentive,
vesting early if the share price reaches certain targets.
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