GREY:NEPTF - Post by User
Post by
gwrbion Jun 10, 2010 7:49am
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Post# 17175893
Stock options set to expire
Stock options set to expire
The Management Proxy Circular describes all the management and director compensation packages and lists the outstanding stock options.
It shows about 800,000 stock options issued in 2005 at
.25 will expire on June 14, 2010. The current in-the-money value owing is about $1M. Not sure how this will play out. Do they extend the expiry, or do they take the shares and not cash out, or do does the company write big cheques.
If there is to be a cheque cut, the last four weeks' malaise (from $2.20) has cost the directors and managers about $600K of very tax effective compensation. Ouch!
(so they have definitely shared our pain!)
Most of the remaining outstanding stock options are vastly underwater.
So management should be very motivated to get their crap together.