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Politics : Formerly About Advanced Micro Devices
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To: Paul Engel who wrote (34349)7/12/1998 9:34:00 PM
From: Tiley  Read Replies (1) of 1571807
 
Paul "Re: AMD @50% off",

JB might have something there. I remember with the last proxy vote, there was a question regarding issuing AMD stock or options (I'm not sure which) at 50% of the market value. At that time, I was an AMD stockholder (having had the good fortune to sell on the hype :-)) and voted no on all the proposals. I did raise the question on this thread at that time but not one of the loud AMD supporters had any comment on the issue (perhaps they were all busy counting the profits AMD was going to make in the next quarter based on the yield and the large number of CPUs they would sell :-))- so I figured they had all probably sold out and I was the only one on the thread who had been sent the proxy and held any AMD stock and who was outraged at the proposal. I've long since thrown out the report (along with the stock) so perhaps someone else can dig it up. I'm sure there are ways around SEC regulations (perhaps the difference in the issue price and the market price will count as compensation to the grantor or some such loophole). Of course, if I remember right, this boondoggle was not for all employees but only for Jerry and his select few.

Of course, its always possible that I do not have all the facts on this issue right but it would be interesting to see the actual proposal again,

I don't think there are any AMD employees with $48 stock options anymore. I believe they've all been repriced. If only the ordinary stockholders were so lucky!!

Best Wishes,
- MJ
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