hueyone, re "This SEC filing is not available at my website source for SEC filings yet, so I plan to double check the filing as soon as it is available on this website."
The only relevant paragraph in the 8-K filing:
Cisco Systems, Inc. (the “Registrant”) from time to time makes merit-based, companywide stock option grants to its employees. On April 10, 2003, the Compensation and Management Development Committee of the Board of Directors of the Registrant approved the granting of merit-based stock options to eligible employees to purchase an aggregate of approximately 75 million shares of the Registrant’s common stock at an exercise price of $13.04 per share, which represents the closing selling price per share of common stock on the Nasdaq National Market on April 10, 2003. The Registrant intends to only file a Form 8-K regarding stock option grants when it makes merit-based, companywide grants to its employees.
sec.gov
Nothing defines Cisco's usage of "merit-based". However, I believe merit-based refers to past performance, as for a merit raise, or a merit-based scholarship. If so, there would be no performance requirements, other than continued employment until the vesting date.
Your source for SEC filings can only get the filing from the SEC, IMHO. You may access SEC directly at sec.gov.
Regards, Ron |
