The strike price for those options will be set later this week, she added.
The buyer has the right to sell the stock at the strike price.
The lower the strike price, the more an option is worth to the recipient.
First, in November 2000, he got four million with a strike price of $50 under the company's regular stock option program.
The sales cover 22 million shares, with an average strike price of about $48 a share.
Still, this year he also received 79,076 stock options, at a strike price of $19.375 - up from 14,150 in 1999.
Until last week, no one had been willing to buy an April call option with a strike price of $50.
"If the stock is trading at $10 and you have a strike price of $1, that's real money," he said.
The strike price of the options is $21.18 a share.
The strike price was $44.50 a share, just $2.25 above the stock's low for all of 2000.
Otherwise, the cost is the difference between the exercise price and the market value of the stock.
The options have an exercise price of $44.08 and vest over the next three years, beginning in May.
Furthermore, the option came with an exercise price of $18.30.
The rest are options, most of which have exercise prices well above the stock's current price.
It will also buy back options for 20 percent of the exercise price.
Some companies followed a practice of adjusting the exercise price later if it fell.
The maximum value of any put is set by its exercise price:.
He was given another 3.97 million options with an exercise price of $20.70.
He received 44,898 stock options early in 1990 at an exercise price of $45.94 a share.
The exercise price may change at various dates - $8 until 1988, for example, $9 after that.