RE: Subject: stock options

Subject: RE: Subject: stock options
From: "Darren Barefoot" <darren -dot- barefoot -at- capeclear -dot- com>
To: "TECHWR-L" <techwr-l -at- lists -dot- raycomm -dot- com>
Date: Tue, 26 Mar 2002 14:04:18 -0000

We actually came up with a term for this when it happened at our

quadriquintecimate - (v) To reduce by four-fifths.

Ms. Wright wrote:

There are a couple of other tricks to look out for as well. One is the
"reverse-split," wherein the board decides to reduce the outstanding
number of shares by a certain ratio (e.g., divide the total shares,
including options, by 5). In theory this multiplies the value of each
share, but I had one experience where the board later re-valued the
option price to the original pre-split value, so they effectively simply
stripped us of options.

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