You are the head of administration for the employee stock option plans of a publicly traded company.
Question:
Of the 1,357 grants, only two differed from the compensation committee schedule for their grade level; both differences were due to unusual circumstances involving the particular employee (one of the grants had a higher number of shares than the schedule for the employee’s grade level, and the other had a lower number of shares). On January 25, 2008, you received an e-mail from a regional manager in a remote corner of the company informing you that one of the Grade 15 employees in his region was inadvertently left off the list he sent you in December and that the omitted employee should receive the standard grant of 1,500 shares. On January 25, 2008, the company’s stock was trading at $3 per share higher than its closing price on January 15, 2008. You have not yet sent the approval list to stock option administration for processing. What should you do?
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Related Book For
Managers and the Legal Environment Strategies for the 21st Century
ISBN: 978-0324582048
6th Edition
Authors: Constance E Bagley, Diane W Savage
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