Lloyd Is the CFO for a Firm That Uses ISOs

question 41

Multiple Choice

Lloyd is the CFO for a firm that uses ISOs as part of its executive compensation plan.He receives $150,000 annually,paid semimonthly,in base salary plus 25 shares of the firm's stock per month.The stock is omitted from gross pay calculations and is valued at $52.50 per share and he may exercise his option within five years at $0.10 per share.What is Lloyd's gross pay for mid-October?

• A)$7,250
• B)$6,250
• C)$7,560
• D)$8,250

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