PROGRAMMER'S PARADISE (PROG) Message Board

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Technology Stocks : PROGRAMMER'S PARADISE (PROG)

PROG 0.146

+6.5%

Jun 13 5:00 PM EST

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To: KellyW who wrote (711)	2/16/1999 2:43:00 PM
From: Zeev Hed	Read Replies (1) of 2383

Kelly, I think it is important that people know that not the whole 1.3 MM shares covered by the S-8 are actually going to be exercised anytime soon. These are "allotment, thus some of these options have not even been granted yet. In the share count for dilution (5.2 MM in the last report) a good chunk of these options (those in the money and excercizable) are in the count. Those that are not yet excercizable are not in the count. We will have to watch "insiders" for sale to see if there is anything to worry about. While such a large portion of all shares being optionable is somewhat out of the norm, we must remember that PROG had made a number of acquisition and brought in a new chief (last year) both of which required some sizeable incentives packages, and in this regard, I think this number is quite fair. Zeev

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