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Posted by Katie on November 27, 2006, 8:08 am
Please log in for more thread options Phil Marti wrote:
>> I am a regular employee (ie, non-executive) at a company
>> that is in the process of restating earnings after it was
>> determined that stock options were incorrectly adjusted
>> (though, my options weren't adjusted). Because of this, the
>> company has put a hold on all options.
>>
>> My problem is that I exercised some options some time ago,
>> and I decided to hold them. Last week I tried to sell
>> options that I had exercised, and my broker told me that my
>> company has blocked any trades on those options.
> Your description doesn't make sense to me. AFAIK "exercising"
> an option means buying the stock at the option price. Thus
> you would no longer have the options you exercised back then.
I agree with Phil. If you exercised the options, you now
own the stock, not the options.
Has your company blocked trades on the stock you acquired by
exercising your options? Did the terms of the option
require you to hold the stock for some specified period
before selling it?
Katie in San Diego
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