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Re: SemiconEng post# 27700

Monday, 03/01/2004 12:24:50 AM

Monday, March 01, 2004 12:24:50 AM

Post# of 97595
Help me understand. Why did he have to sell?

He didn't have to sell, but if he didn't he would have had to cough up a cool $2.7 million to pay for the shares from the exercise.

The only reason for exercising options for a $2/share gain would be that they are expiring. He could have exercised and sold at $18 not too long ago. He probably thought it would be higher by expiration, but it didn't work out that way.

HailMary

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