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Technology Stocks : VLSI Technology - Waiting for good news from NASDAQ !!!
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To: Maui Jim who wrote (4398)9/21/1998 9:33:00 PM
From: thomas hayden  Read Replies (1) of 6565
 
Dan Z, VLSI repriced their options according to the San Jose Mercury News.

" Double-dipping, however is just what top executives at VLSI, including CEO Alfred J Stein, are getting. All employees with unexercised options granted after March 12, 1996, can reprice options at VLSI's stock price on Sept. 15 of $7.50, according to a company spokesman.

Curious about the March date of two years ago? That was when VLSI last repriced options -- for all employees -- at $11.

VlSI's repricing does have a hitch. The vesting schedule does remain the same, but employees can't exercise their repriced options for nine months."

The cynic in me thinks that 9 month clause was inserted because they don't think the stock is going anywhere for a while and they are trying to look good. I bet if they thought the stock would double in 3 months you wouldn't see that clause.
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