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Pastimes : CNBC -- critique.
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To: Jorj X Mckie who wrote (7916)5/15/2001 5:16:22 PM
From: Mark Marcellus  Read Replies (1) of 17683
 
If I were a Cisco shareholder, I'm not sure I'd take any consolation in the fact that they replaced the underwater options rather than repriced them. The dilution from this options grant will be either the same as, or worse than, a repricing.

The whole thing strikes me as a rather weasely way of effectively repricing options while still being able to say that you didn't.
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