Cyrix 1 Where anything goes Message Board

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Technology Stocks : Cyrix 1 Where anything goes

CYRX 8.690

-0.8%

Nov 14 9:30 AM EST

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To: Mark A. Forte who wrote (79)	1/2/1997 12:43:00 PM
From: Art Courville	of 640

Mark - In registering stock for an option plan, you are required to calculate a filing fee using a stock price, and the method for determining the price is specified by law. The price used in the registration statement doesn't have anything to do with management's view of the prospects for the future value of the stock. It also doesn't have anything to do with the exercise price of options that may be granted in the future. The exercise price is generally set at the FMV on the date of grant. Options generally have value because the exercise price is fixed and the options are exercisable over a long period (usually 10 years), not because they are in the money when granted. Anyway, my point is simply that your inferences from the S-8 aren't valid. Art

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