Go to Jeff Salisbury LWGate Home Page.From: Rich Carreiro <rlcarr@animato.pn.com>
Subject: Re: Stock Options/Insider treatment
Date: Tue, 17 Nov 1998 18:53:07 -0500
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>I have some stock options in my company and the company has not yet >gone public. If I leave my present job and chose to exercise some of >these options, would I still be considered an insider when the company >goes public? In particular, I am interested in knowing if the >restriction of not being able to trade exercised shares for a period >of 6 months will apply to me in this case. Look to the actual text of your stock option agreement, articles of incorporation of the company, and your employment agreement (if any). If there's a stand-off provision, it should be in one or more of those agreements. Also check the agreements to see if the company has the right to buy the stock off you when you leave. Many not-public companies have such provisions, so don't assume you'll be able to leave the company and continue to hold the stock. Rich Carreiro rlcarr@animato.pn.com P5-100/RedHat Linux 4.1 - -
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