They told you the number of grant dates, but not the number of grants.
But other companies will argue that the rules establishing a stock option's grant date were not always clear, or at least open to interpretation.
"Where I think people might get confused is they are used to seeing the grant date fair values."
He got options to buy 1.69 million shares, valued at $7.5 million on the grant date, the company said.
(The exercise price of all options in the study is the same as the market price on the grant date.)
Consider again the executive who received 100,000 options on a stock that was trading, on the grant date, at $30.
Alternatively, a formula may be used, such as sampling the lowest closing price over a 30-day window on either side of the grant date.
Through backdating, companies change the grant date to a day with a lower stock price, giving recipients built-in profits.
He told investigators "he was unaware of how the grant dates were selected" or other precise terms.
But the company said that some grants to employees were changed after their grant date.
They told you the number of grant dates, but not the number of grants.
But other companies will argue that the rules establishing a stock option's grant date were not always clear, or at least open to interpretation.
"Where I think people might get confused is they are used to seeing the grant date fair values."
He got options to buy 1.69 million shares, valued at $7.5 million on the grant date, the company said.
(The exercise price of all options in the study is the same as the market price on the grant date.)
Consider again the executive who received 100,000 options on a stock that was trading, on the grant date, at $30.
Alternatively, a formula may be used, such as sampling the lowest closing price over a 30-day window on either side of the grant date.
Through backdating, companies change the grant date to a day with a lower stock price, giving recipients built-in profits.
He told investigators "he was unaware of how the grant dates were selected" or other precise terms.
But the company said that some grants to employees were changed after their grant date.
