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Technology Stocks : Vari-L (VARL)
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To: RobertSheldon who wrote (2190)5/15/2000 11:12:00 PM
From: voop  Read Replies (1) of 2702
 
what do you want, management to rescind these stock options?

Hello Robert

There may be a precedent for this, see LPTHA Board of Directors changed options for new Chairman of the Board Robert Ripp. See excerpt from March 31, 2000 10-QSB posted on yahoo messages.yahoo.com
<p> The Company will incur a non-cash charge of
approximately $18 million for stock based compensation which will be amortized
over the vesting period, April 2000 through December 2001. This will result in a
non-cash charge of approximately $2.7 million per quarter for each quarter
through December 2001. These changes to the original contract reduced the total
stock based compensation charge as of April 12, 2000 and provides for less
dilution to the shareholders. </p>

And today Mr Ripp files his form 4 notifying SEC about his acquiring his options which vest in 12/01 at 6 and 24 per share on 4/12/00.
10kwizard.com
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