Originally Posted by
Denny Crane
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
Ya forgot the 3 allocations...i think the lucky ones exited the first at the high around $130.
Options are always a gamble. Sometimes a lot....and sometimes 0.
The esop issue was really the stick in the eye. Sold as a lbo poison pill help out with a guaranteed value.....sound familiar?
We should only engage in tangible financial transactions with our employer.