QDEL - Quidel more quick diagnosis Message Board

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Biotech / Medical : QDEL - Quidel more quick diagnosis

QDEL 19.74

-3.1%

Nov 10 3:59 PM EST

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To: Robert Busse who wrote (1483)	7/30/1998 1:17:00 PM
From: FISHERMAN	Read Replies (1) of 1693

As a part of Mr. de Bruin's employment agreement, a grant of stock options for 1,428,420 shares was made with an exercise price equal to the June 9, 1998 closing price of $3.25. The stock option is subject to vesting over time and certain performance criteria. Upon shareholder approval, the new grant replaces a previously granted option to purchase 300,000 shares of stock. The option grant is conditioned upon shareholder approval of a new 1998 Stock Incentive Plan to be considered at the upcoming Annual Shareholders Meeting on July 28, 1998. If the Stock Incentive Plan is approved and the price of QUIDEL's common stock on the Annual Meeting Date is greater than $3.25 per share, accounting rules require that a non-cash expense be recorded and amortized over the vesting term in a total amount equal to the per share price increase times the number of optioned shares. No such expense will be recorded if the common stock price at the date of the Annual Shareholders Meeting is at or below $3.25 per share. Well, we closed below $3.25. Will someone explain the pros and cons of this? tw

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