John Paczkowski

Recent Posts by John Paczkowski

By the Time SIRI Hits $4.72 Per Share, I’ll Be Dead Anyway

May 14, 2009 at 7:40 am PT

  • Share
  • Print

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.

Tagged with: employees, entertainment, exercise price, incentive plan, John Paczkowski, Mel Karmazin, SIRI, Sirius, Sirius XM Radio, stock incentive plan, stock options, vested

comments so far. Add yours.

  • jim sfakianos

    Condolences on your up coming demise…..Nothing is certain in this Market and Sirus has the potential to reach $5 within a year. Of course you may also have an opportunity to live forever. Good Luck!

  • Jeff Stevens

    Poor taste John. Fix it now!

  • Joseph Massimino

    What does you being dead or alive have to do with anything. Siri will swing into the dollar range the very minute they post their first true profits. Their negative earnings reports have been always going more positive. They will be all about profits in 2010.