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Technology Stocks : Novell (NOVL) dirt cheap, good buy?
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To: Elmo Gregory who wrote (36011)3/5/2001 5:41:46 PM
From: Paul Fiondella  Read Replies (2) of 42771
 
Aug 17th, 2001 --- a big day for employees

On January 31, 2001, all employees (other than executive officers) who had
not received a stock option grant within the past six months and one day were
offered the opportunity to have their outstanding options, with an exercise
price greater than $10 per share, cancelled.

Upon cancellation, the employee received a promise to regrant the same number of options, with the same terms,
six months and one day in the future at the then fair market value. Although
the new option will have the same vesting as the cancelled option, it will not
be exercisable until February 17, 2002.

Options to purchase a total of 13.6
million shares having a weighted average exercise price of $26.82 per share
were cancelled in connection with this option exchange.

A like number of
options will be granted on August 17, 2001 at an exercise price equal to the
fair market value on that date.
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