Re: 500,000 more options for FALK
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Message: 500,000 more options for FALK
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Falk let 400,000 opitions expire at 7/01/09 that had a strike price of 23 cents. You are right about the 500,000 opitions being an amendment to the previous filing for 650,000 options. Falk's net gain in options this year is only 100,000. I would say this is not to extravagant for the company to award.
From the 8=K
(1)this amendment is filed to correct the number of options granted from 650,000 to 500,000. All other terms of the option grant are the same as the original filing.
From the 10-K
|
ber of
Securities
Underlying
Unexercised
Options
Exercisable
|
Number of
Securities
Underlying
Unexercised
Options
Unexercisable
|
Equity
Incentive
Plan
Awards:
Number of
Securities
Underlying
Unexercised
Unearned
Options
|
Option
Exercise
Price
|
Option Expiration
Date
|
||||||||||||||||
|
Alfred H. Falk
|
750,000 | — | — | $ | 0.145 |
3/30/10
|
||||||||||||||
| 400,000 | — | — | $ | 0.23 |
7/1/09
|
|||||||||||||||
|
William Blakeley (1)
|
— | — | — | — |
—
|
|||||||||||||||
|
Robert Putnam
|
25,000 | — | — | $ | 0.23 |
07/1/09
|
||||||||||||||
| 500,000 | — | — | $ | 0.145 |
3/30/10
|
|
(1)
|
A total of 1,175,000 vested and exercisable options were forfeited during the year and options on 375,000 shares were exercised on a net exercise basis with 156,896 net shares of common stock issued. The intrinsic value of the options exercised was $27,300 and Mr. Blakeley reimbursed the Company for the employee share of payroll and withholding taxes.
|
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