Zeev's Turnips Patch-No Politics (ZEEV)

[Stock]

sure. ok.

AMAT options overhang has been enemy #1 in the analyst community.

They are not going to award their top exces unless they perform. They are not going to get the accelerated options. This the filing does say. Their option expense is the greatest overhang.

This acceleration is for everyone below the executive suite, and they ARE accelerating the expense to 2005 for everyone but the top dogs.

This is how I read it -- net effect zero, as they had already booked an expense for options in 2005 and this will actually be a bit of an expense reduction in 2005, imo, based on the numbers I keep up with.

If you want to go read all their Form 4's have at it.