Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Source Media SRCM -- Ignore unavailable to you. Want to Upgrade?

To: techguy who wrote (670)	7/28/1998 1:01:00 AM
From: R.E.B.	Respond to of 3015

News Flash !!!!! I just woke up in a sweat, my heart racing, nose running and breathing labored, I just had a dream . o O O April 1, 1999 15 5:02 PM ET Shares of Source Media (Nasdaq: SRCM), an obscure interactive-television technology company today announced: APRIL FOOLS !!!!!! The president went on to say that the Pot Luck Supper last night was a hit, but does not believe that the potato salad was really home-made. The CFO commented that "covered-dish" does not mean an empty dish with a lid on it . . . "people, we all know we're each supposed to bring something, O.K." Chief of security, Joe Mama, stated, "its O.K. to clean out your desks, but only take what is yours, the carpet belongs to the landlord". The coffee pot was cleaned and the Neon "OPEN" sign was turned off. For more information contact: Investor Relations

To: techguy who wrote (670)	7/28/1998 9:50:00 AM
From: Moneysmith	Respond to of 3015

I think this answers it all..... Also pressuring Source Media shares was an amendment to the company's procedures for granting stock options to executives under consideration at Tuesday's annual meeting. A proposal up for shareholder vote would eliminate the 6-month waiting period necessary before executives can sell their options, according to an explanation of the proxy. Investors became unglued after news of the plan circulated on Wall Street. They feared executives would beginning selling many of the 798,800 stock options now in effect, especially given the company's still strong share price, market sources said. Source Media also seeks to increase the number of shares reserved for options beyond the 1.76 million now available. It says this is necessary to attract, retain and motivate employees. The elimination of the 6-month waiting period would enable executives to begin selling options they were granted this year as the stock price met various price targets, from 11 to 20 a share. The targets were met when the stock exceeded that price for 20 days in a 25-day period. The executives granted options include Timothy P. Peters, chairman, President Reed, Chief Financial Officer W. Scott Bedford, and executive vice presidents Daniel D. Maitland and W. Thomas Oliver.