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Technology Stocks : BAY Ntwks (under House)
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To: inside novell (Hijacked) who wrote (6772)6/25/1998 1:25:00 PM
From: Joachim Martin   of 6980
 
IN, Re: 'canceling shares'

I don't understand what you mean by this. When Stock Options are
exercised they are purchased by the employee, and become his/her
property. If House figured out a way to revoke ownership rights
on their purchased shares, well, hmmmm. That's called theft. Don't
think so.

When you leave a company, you generally get 3 months to exercise vested shares. Could it be that he revoked this option? The unvested portion goes back into the pool for Option Plans.

If House canceled options that had been vested and weren't excercised
that sounds like a problem to me. I'm sure they signed an option
agreement and it should be pretty clear.

--Joachim
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