InterDigital Inc (IDCC)

[Dave Davis]

Talked to Janet about the number of outstanding shares. She started to explain all the calculations, but my eyes started to glaze over.

It's not simple, but the jist of it is that the buyback is essentially offset by the number of options exercised by both officers, which are public, and by employees, which are not public.

As the price of the stock goes up, the more options held by officers and employees become 'in the money,' the more dilutive those option become.

Bottom line: Don't expect the number of outstanding shares (basic or diluted) to go down anytime soon.

Sorry I cannot be more helpful, but I am just not as inclined as I once was to invest the brain cells needed to understand this stock.

Dave