AllThingsD » incentive plan http://allthingsd.com Sun, 12 Feb 2012 00:49:41 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 http://allthingsd.com/theme/images/logo-rss.jpg All Things Digital http://allthingsd.com/ 144 22 By the Time SIRI Hits $4.72 Per Share, I’ll Be Dead Anyway http://allthingsd.com/20090514/by-the-time-siri-hits-472-per-share-i%e2%80%99ll-be-dead-anyway/ http://allthingsd.com/20090514/by-the-time-siri-hits-472-per-share-i%e2%80%99ll-be-dead-anyway/#comments Thu, 14 May 2009 14:40:57 +0000 John Paczkowski http://digitaldaily.allthingsd.com/?p=17667 mel-karmazin-smilejpgSirius XM Radio CEO Mel Karmazin says his decision to forfeit 30 million company stock options is a generous enhancement to the company’s stock incentive plan, one that will help it “attract, motivate and retain key employees.”

Quite the altruist, that Karmazin.

But let’s be honest here. Given that the options, of which 24,000,000 were vested and 6,000,000 unvested, had an exercise price of $4.72 per share and that Sirius’s stock is trading at about 35 cents, they really weren’t worth anything. So a nice addition to the company’s incentive plan, but an ironic one in that Karmazin had little incentive to keep the Sirius (SIRI) options he’s forfeiting.

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