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Biotech / Medical : Sepracor-Looks very promising -- Ignore unavailable to you. Want to Upgrade?

To: Ed Ajootian who wrote (3719)	9/23/1999 11:30:00 AM
From: Biomaven	Respond to of 10280

Ed, Thanks. Because these are low-priced grants ($5-$9) they could indeed be ISO's. You are correct that you can exercise more than $100k of ISO's at once - the limit is that no more than $100k of ISOs can vest in any calendar year. (If the grants were at say $30, then it would have been extremely unlikely that they could have been ISOs). The weighted average remaining contractual life for all outstanding SEPR option grants in this price range was around 6 years at the end of 1998, so it's likely (but not definite) that these grants were not about to expire. Peter