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Technology Stocks : Citrix Systems (CTXS)
CTXS 103.900.0%Nov 2 5:00 PM EST

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To: Roger A. Babb who wrote (5402)4/6/1998 7:06:00 PM
From: David Lawrence  Read Replies (2) of 9068
 
Roger,

I believe that vested, in-the-money options are already included in fully diluted shares/outstanding and PR, PS that are stated on that basis. That may be true of vested, not-in-the-money grants too.

From a dilution standpoint, the thing that may hurt us is if Citrix repriced outstanding unexercised options when they tanked last year to keep key personnel from leaving. If they did, it was a windfall to those employees and a detriment to shareholders, since CTXS will realize less consideration when the options are exercised.

As an aside, I doubt that the proxy filing had anything to do with todays correction - which was pretty much across the board. It wasn't that big a move in comparison to the recent run up. Besides, we don't want to totally wipe out the shorts, and we certainly want to keep the volatility premiums high when it comes time to hedge. :-)
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