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Technology Stocks : Siebel Systems (SEBL) - strong buy?
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To: hueyone who wrote (5968)6/9/2002 7:35:03 PM
From: hueyone  Read Replies (1) of 6974
 
In my last post, #5968, where I tried to back into the pre tax stock option expense from the cash flow line item "tax benefit from exercise of stock options", the number I ended up with was a 145.4 million pre tax stock option expense. I just realized that this number immediately presents a problem---and that is that Tom Siebel alone exercised stock options worth 175 million dollars. We get another 35 million in stock options exercise from adding Paul Wahl into the mix and I have no clue what the value of all the rest of the employee's stock options exercises were. So clearly my estimate of 145.4 million for the pre tax stock option compensation expense is low. Sorry, I gave it an honest try but it just didn't pan out.

Again, if the Levin/McCain bill were passed, the pre tax expense that Siebel declared to get the tax benefit would be out in the open where we wouldn't have to fumble around trying to figure out what it is.

Best, Huey
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