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To: schlep who wrote (5916)3/22/1999 9:17:00 AM
From: Michael Sphar  Respond to of 6565
 
Saw it mentioned on Yahoo, those options could be canceled by prevailing party in a hostile takeover. ie worthless pieces of paper unless acted on, in advance. He might be restricted by SEC rules once bid was made public.



To: schlep who wrote (5916)3/22/1999 10:12:00 AM
From: otter  Read Replies (1) | Respond to of 6565
 
Echoing Michael S.... (Sorry Michael) (1) IF the options were non-qualified options, an acquiring party could undo Big Al's options agreement. (2) Also, it appears SEC regs would prohibit him from exercising the options during a hostile takeover. The suggestion is that he knew this was about to happen and moved while he could.

See the links here. Good (if not fun) reading. Message 8422647


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