keV, thanks for that. You are right, it IS in the ESOP language. I should have printed a hard copy.
But, this language is also in Section II, referring to the total amount in the plan. If say about 1/3 expire or are forfeited, they can reissue those shares with the current criteria.
Unclever
II. AMOUNT OF STOCK SUBJECT TO THE PLAN
The total number of shares of Class A common stock of the Company which may be purchased pursuant to the exercise of options granted under the Plan, including pursuant to the exercise of Incentive Options, shall not exceed, in the aggregate, 21,500,000 shares of the authorized Class A common stock, $0.01 par value, per share, of the Company (the “Shares”).
Shares, which may be acquired under the Plan, may be either authorized but unissued Shares or Shares of issued stock held in the Company’s treasury, or both, at the discretion of the Company. If and to the extent that options granted under the Plan expire or terminate without having been exercised, new options may be granted with respect to the Shares covered by such expired or terminated option, provided that the grant and the terms of such new options shall in all respects comply with the provisions of the Plan.
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