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Technology Stocks : Siebel Systems (SEBL) - strong buy? -- Ignore unavailable to you. Want to Upgrade?

To: rkral who wrote (6735)	6/3/2003 5:05:24 PM
From: hueyone	Read Replies (1) \| Respond to of 6974

I have essentially the same percentages -- none exact, however. Ron, Of course I rounded, but I also checked my "beginning shares" multiple times and tried to make sure I picked up any splits by taking the ending shares on the balance sheet for the previous year on the current 10K. For example, to get the beginning shares for year 2000, I went to the balance sheet on the 2000 10K, and looked at the ending shares for year 1999 on the balance sheet. Two years are given on the balance sheet for each 10K. This way, the ending shares for 1999, or beginning shares for 2000, picked up the splits for shares that occured during 2000. Then I would also use the figure for the options granted from the footnotes in the 2000 10k, which presumably also picked up any splits that occured during year 2000, and thus would correlate with my split adjusted beginning shares for that particular year. Hence, I still believe those high grant rate percentages to be correct. Regards, Huey

To: rkral who wrote (6735)	6/11/2003 1:42:03 PM
From: rkral	Respond to of 6974

OT .. correction re "That was a total of 19.95 million shares presumably accounted for by forfeiture and cancellation. That action is undoubtedly a large part of the reason why option grants for 2002 were _only_ 1.3% of shares outstanding" In actuality, Siebel reported 25.95 million shares _cancelled_ for CEO Tom Siebel during 1Q03 .. at a weighted average exercise price of $34.63. The terms used by FASB 123 for options voided .. is 'forfeit' before vesting .. and 'cancelled' after vesting. For the later, the option value at grant date must be expensed. I'm looking into that. Ron