When Underwater Employee Stock Options Are Exchanged, the Option Holder

question 86

Multiple Choice

When underwater employee stock options are exchanged, the option holder generally receives:

• A) a smaller number of new options with a lower exercise price.
• B) a cash payment equal to the value of the options when they were originally issued.
• C) twice the number of options with an exercise price equal to half of the original exercise price.
• D) a larger number of new options with a higher exercise price.
• E) the same number of options but with a higher exercise price.

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