google swap meet
This week, a whopping 93 percent of underwater google options were swapped by google employees participating in a program that allowed those holding stock options with strike prices above the current stock value to swap them for new options with a strike price of $308.57. Those holding that 7 percent must be kicking themselves. Hopefully their options’s prices are all close to the current share price. I wonder how many above water options were swapped.
Update: The swap also resets the vesting schedule, so it does make sense not to swap if your option price is only a little above the market price.
