InterDigital Inc (IDCC)

[JimLur]

Ronnie please explain.

You said "Mr. Shaner, Mr. Zabarsky, and Mr. Kamins each received initial compensation upon agreeing to serve on IDCC’s BoD. From the December 2003 F4 filings, they each received 6,000 RSUs and 2,000 stock options with an exercise price of about $19.60, the closing stock price on the date of grants in December 2003. Thus, each new outside director received compensation of $117,600 each for the RSUs (6,000 x $19.60 stock price on date of grant) and $31,980 each for the stock option grants (2,000 x Black-Scholes valuation of $15.99 per option for grants in 2003) for a total estimated INITIAL compensation of approximately $150,000 each. "

If they have an exercise price of $19.60 as you say than so far these guys haven't made a dime. If they are given for free then why do you mention exercise price? If they have to exercise their options and pay $19.60 per share as you state what would the stock have to go to for them to make $150 thousand?

Am I correct at the current share price that these grants you mentioning are worthless?