Then there's a couple questions.
>> Registration under an S-8 is part of the package designated to employees.
There were no new shares issued.
This had nothing to do with VSI.
This is a compensation package for the employees that should have been reported awhile back. It is an obligation to the employees that needed to be cleared up from before.
Generally the employees will earn their options over 3-5 years. The vesting will occur either monthly or anually on a direct percentage basis. 3yrs vested at 1/36/mo or 1/3/yr. <<
An additional 7.5M shares were issued, according to the S-8 filing. Or, at least, authorized to be issued. So I don't understand your saying there were no new shares issued.
??
Message 8378330
On March 15, 1999, the Board of Directors of the Registrant increased the number of shares of common stock authorized to be issued under the VSI Plan from 10,000,000 to 17,500,000. The 10,000,000 previously authorized to be issued under the VSI Plan were registered in the aforementioned two prior registration statements. This registration statement registered the additional 7,500,000 shares authorized to be issued under the VSI Plan.
...
Also, in the filing, it was described as the plan being "re-stated." If they were re-stating it, why wasn't it re-named?
These questions need to be cleared up, IMHO. Thanks. |
