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To: Elmer Phud who wrote (180963)5/1/2005 12:15:35 AM
From: rkral  Read Replies (1) | Respond to of 186894
 
ephud, the oldest 10-K is for 1993 on the SEC website, so that's as far as I know and as far as I wish to go. sec.gov

My WAG is that prior to 1991 there were option exercises but no repurchases. But recall that I assumed all 884MM options outstanding at year end 2004 would be exercised. A more reasonable estimate might be 50% exercised, leaving 440MM share buffer to cover exercises prior to 1991 ... years when I believe option abuse was not yet prevalent.

Ron