Wave Systems Corp. (fka WAVXQ)

[UncleverName]

Ramsey,

I wonder if everybody knows most of SKS's stake in the company is in the form of options that are about to expire unexercised?

What are you reading? Are you looking at when the options vest? They are not exercisable until they vest.

The earliest expiration date for options that SKS holds is 3/1/2008 with a strike price of $3.30.

The Director options vest the day after they are granted, but the ones listed for the executives are spread over three years from the grant date. Only those still vesting are listed in the report with the footnotes. (Well, one was totally vested in January 2007.)

UncleverName