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Starbucks institutes employee stock option exchange
May 21, 2009
San Jose Business Journal: Officials atStarbucks Corp.are giving employees with stock options a chance to swap out their "underwater" options.Stock options are considered underwater if their exercise price is higher than the current value of the stock.
The Seattle coffee giant is instituting a stock option exchange program that's set to expire May 29. Under the program, employees can surrender some options for a lesser amount of new options with a lower exercise price.
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