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Buying Underwater Options to Buoy Morale
TheDeal.comLink to more items from this source
Oct. 9, 2002
Excerpt: With the Nasdaq at six-year lows, technology workers ... face the stark prospect that the yawning gap between the strike prices of their options and their companies' falling stock prices will never close. That does not make for a happy worker.... On Sept. 30, 3,420 Siebel employees decided to take the company up on its late August offer to pay them roughly $21 million in cash and stock for their options.

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