Business Services Industry
Pleasanton, Calif.-Based PeopleSoft to Reprice Employee Stock Options.
Knight Ridder/Tribune Business News, November, 1998 by Avalos, George
Knight Ridder/Tribune Business News
Nov. 20 -- PLEASANTON, Calif. -- PeopleSoft Inc., determined to retain its employees, said Thursday it will reprice all outstanding employee stock options that have a purchase price above $22 a share.
The software maker decided the new price to exercise the options will be based on the closing price for PeopleSoft's stock on Dec. 15 of this year. The company's shares closed at $22 on Thursday, up 69 cents.
The move to reprice the options comes in the wake of a steep plunge for much of this year in the value of PeopleSoft's shares.
The Thursday close was down 61 percent from the 52-week high price of $55.94, reached in April. But the latest price was up 17 percent from the low for the year, $18.88,...
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