Google amends option auction plan to let executives take part - 17 Apr 2009

Google amends option auction plan to let executives take part

Posted by Jack Davis on April 17th, 2009 at 7:22 pm | Categorized as Docu-Drama, Google, Options | Tagged as Executive Pay, Google, Options, Transferable Stock Option program

Somewhat lost among the news about Google’s first sales decline ever in
its 2009 first quarter and the decision of the company’s first
salesman, Omid Kordestani to step down — he’ll continue on as an
advisor to the company’s chief executive and co-founders — was news of
the filing of an amendment to the company’s innovative “Transferable
Stock Option” program.

he program, first unveiled in April 2007, was designed to let workers auction off their options
to outside investors. The move came at a time when employees were
sitting on 1.3 million underwater options that were priced months
before at a then all-time high of $510.

For more information on Google's Transferable Stock Options.

Posted by Dan Walter

Performensation: Equity Compensation for High Performance Companies.