Hi Logan,
this is the description of Proposal No. 5 in the Proxy statement:
"The Company believes that long-term equity compensation in the form of stock options is critical in order to attract qualified employees to the Company and to retain and provide incentive to current employees, particularly in light of the increasingly competitive environment for talented personnel. As of March 1, 1999, options to purchase 50,002,448 shares were outstanding under the Stock Plan,
27,190,114 shares had been issued pursuant to the exercise of options granted under such plan and 8,807,438 shares remained available for future grants. The Board believes that the number of shares currently
available under the Stock Plan is likely to be insufficient in light of potential continued growth in the Company's operations, including potential increases in the number of employees if and to the extent the Company completes acquisitions of other companies or businesses.
For this reason, the Board has determined that it is in the best interest of the Company to increase the number of shares available
for issuance under the Stock Plan by 40,000,000 shares."
i like that next to last line.
"...to the extent the Company completes acquisitions of other
companies or businesses."
the request for these additional shares available to employees, and a buyout(of CheckFree?), seems to have some timing to it.
perhaps you'd agree. |
