“Apple Inc. Friday said it offered to amend certain options granted under its employee plan, giving participants the choice to raise the exercise price and get a cash payment,” Dow Jones reports.
“The offer relates to options that had an original exercise price per share less than the fair market value per share of the common stock underlying the option on the grant finalization date, the company said in a Securities and Exchange Commission filing,” Dow Jones reports.
Dow Jones reports, “Participants in the Cupertino, Calif., computer and digital music company’s program may elect to increase the exercise price per share to the fair market value, the filing said.”
“For each amended option, participants will receive a cash payment equal to the difference between the new exercise price and the original exercise price per share, the filing said. ‘Cash payments will be paid on or promptly following Jan. 25, 2008, and all such payments will be subject to applicable tax withholdings,’ the filing said,” Dow Jones reports.
Full article here.
Apple’s SEC filing in full here.