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More Companies Cancel or Reduce Employee Awards as Sinking Prices Complicate Share-Based Compensation
The Wall Street Journal; subscription may be required Link to more items from this source
Feb. 2, 2009
Excerpt: The vicious bear market is presenting many companies with an odd problem: They're running out of shares with which to pay employees. Caraustar Industries Inc., a maker of recycled paperboard, canceled old share awards to top executives so it could distribute shares to lower-ranking managers. Seismic-equipment firm ION Geophysical Corp. refunded some employee stock-purchase payments, because it didn't have enough shares. Electronic-equipment maker Keithley Instruments Inc. trimmed awards to executives and directors to preserve shares.

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