This excerpt taken from the CE 10-K filed Feb 21, 2007.
In December 2004, the Company granted rights to executive officers and key employees to purchase up to 1,797,386 shares of Series A common stock at a discount of $8.80 per share. As of December 31, 2006, 1,684,277 shares have been purchased. As a result of this discounted share offering, the Company recorded a pre-tax non-cash charge of $14 million, with a corresponding adjustment to Additional paid-in capital within Shareholders equity in the fourth quarter 2004. Compensation expense associated with the discounted shares was approximately $0 million and $1 million for the years ended December 31, 2006 and 2005.