Originally Posted by
BobZ
Denny.....the stock options were only worthless if one didnt exercise them at as much as $100+/ share.
Now the esop preferred $72/share stock in lieu of company cash to the 401 did turn out to be worth zero for many of us.
And that was due to the fact they were first in an age lock box so we couldnt sell them....followed by dalpa allowing a conversion to common stock without extracting a floor value that delta would be required to exit the positions to protect some value for the pilots.
We got three tranches of stock options. The only one worth anything was the first one and you had to have sold that almost immediately upon it becoming vested. (There was a year vesting period for each tranche iirc. And each tranche was a year apart). The second two tranches were never worth a thing.
Sooooooo did you exercise them at 100+ a share? If you did, just like esop preferred shares at $72, they went to zero in the bankruptcy. They were worthless.
Denny