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Technology Stocks : Energy Conversion Devices
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To: Allen Bucholski who wrote (7894)12/12/2004 9:08:46 PM
From: Extra Pale  Read Replies (1) of 8393
 
Allen, I respectfully disagree with the idea that somehow exercise of the options is dilutive. Re-marketing the options actually enhances the value: The options, as owned by Chevron are already deep in the money and as good as exercised. Now ecd has the oppurtunity to sell the options, likely netting $70+million in cash to the balance sheet, without any change in number of shares outstanding. Two advantages, greater liquidity for larger stockfunds (many institutional investors want to own less than a 5% of company's shares) and best of all, a financially viable company that will be much more attractive to many stockholders. This is one of those perfect storm situations...
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