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Laplanche's role in an approved stock buyback was also reportedly under investigation by the SEC at one point.
Pfizer's management also announced a 10% hike in the dividend and another $5 billion in approved stock buybacks".
The shares are expected to tumble next week into the mid-$40 range, when recently approved stock warrants begin trading.
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Sure, it's possible that company stocks had been beaten up, and corporate directors, who approve stock options, realized they were likely to rebound.
And finally, both shareholders and independent directors should have to formally approve stock option plans, and they should certainly have to formally approve any changes in the strike price.
Of course, boards do lots of other administrative things, like approve stock options for employees, leases, large agreements, etc., but this post focuses on the non-administrative time spent in a board meeting.
Of course, boards do lots of other administrative things, like approve stock options for employees, leases, large agreements, etc., but this post focuses on the non-administrative time spent in a board meeting.
In addition, Mr. Tauscher sits on a two-member subcommittee that approves stock-option grants and other equity awards to executives, including Mr. Burd.
Mandating that shareholders and independent directors formally approve stock-option plans is another good idea.
On March 3 , 1989 Time's board, with all but one director in attendance, met and unanimously approved the stock-for-stock merger with Warner.
After a weekend of frenetic negotiations, Bear Stearns' board approved a stock-for-stock buyout at a valuation of just $2 per share.
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