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He also had an incentive not to exercise the options until the children reached 18.
If the Angels don't exercise the options, Winfield would receive $450,000.
All this could be avoided if Halliburton would let Mr. Cheney exercise the options before he took office.
Mr. Kerr was free to exercise the options he currently held, as well as those awarded in the future, at any time.
The practice, known as backdating, records option grants on dates when a company's stock price is low, giving executives a bigger payout when they exercise the options.
Finally, this person said, the broker warned that if the employee did not exercise the options, Salomon might have to close the customer's account.
Similar(10)
Declined to exercise the option on OF Ron Gant.
Hampshire recently decided to exercise the option; hence the notices.
Last month the company announced it would exercise the option.
He has said earlier this year that he might exercise the option to sell the stake.
If the Red Sox do not exercise the option, they will pay Martinez $2.5 million.
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