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Technology Stocks : America On-Line: will it survive ...?
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To: The Duke who wrote (8455)3/4/1998 1:22:00 PM
From: Keith J  Read Replies (1) of 13594
 
The vesting refers to the schedule as to when the person is entitled to the option, in this case. Most people are familiar with vesting schedules in company retirement plans, the concept is similar. What happens in the stock option case is that the company will grant an option to an employee, but the option is not currently exercisable - even if it "in-the-money". Disney is notorious for granting huge stock options to management.

For instance, AOL may grant options to Case, but they may not be exercisable until 2002. So, it's true he's holding these options, but he couldn't convert these to the stock currently if he wanted to. In fact, he couldn't do so for 4 years. So, in relation to what his current, exercisable holdings are, Case's sale is a higher percentage.

KJ
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