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Technology Stocks : Phoenix Technologies (PTEC) -- Ignore unavailable to you. Want to Upgrade?

To: Robert Alan who wrote (3178)	3/4/1999 7:33:00 PM
From: Mark Brophy	Read Replies (2) \| Respond to of 3624

Riopel was hired in 1995. That means most or all his options are probably underwater. That's also the reason why so many other Phoenix employees have left and shown up on this thread. There's no incentive to stay. The company could reprice the options and infuriate the outside shareholders like me, but that would be admitting defeat. It's not fair to compare Kay to Angelo. Kay had some difficult decisions to make and made some bad choices, but he's not a gangster and doesn't belong in prison.

To: Robert Alan who wrote (3178)	3/6/1999 12:44:00 PM
From: The Pope	Read Replies (2) \| Respond to of 3624

I don't follow your math. If he exercised the options with his own money, then assuming Mr. Caldwell's numbers are close (btw, I love this "Mr." thing we've got going on), he would need $320K, as Mr. Caldwell stated. He would not owe any taxes until he actually sold the shares, at which point he would pay those taxes out of the proceeds. In a wash sale, he wouldn't need to come up with any money of his own; the proceeds from the sale would be deposited in the brokerage account of his choosing, and he would have a tax liability.