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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: Lizzie Tudor who wrote (64997)	10/21/2003 10:54:59 AM
From: rkral	Respond to of 77400

OT ... Lizzie, re "Tech firms cut back on options" When you see headlines like that, just remember to add back in grants of nonvested stock, aka restricted stock to many. As I've posted a few times, nonvested stock is just an option with a $0 exercise price. A grant of nonvested stock costs shareholders 100% of the stock price on the grant date. Compare this to the typical 40% for a CSCO option. This means a 60% decrease in CSCO shares -- combined with a change from option to nonvested stock grants -- would cost shareholders the same. Ron