By the Time SIRI Hits $4.72 Per Share, I’ll Be Dead Anyway
by John Paczkowski
Posted on May 14, 2009 at 7:40 AM PT
Sirius 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.
Comments
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!
Posted by jim sfakianos at May 14th, 2009 at 9:27 amPoor taste John. Fix it now!
Posted by Jeff Stevens at May 14th, 2009 at 11:18 amWhat 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.
Posted by Joseph Massimino at May 15th, 2009 at 9:24 am