CY » Topics » What is the impact of an exchange on the Companys stockholders?

This excerpt taken from the CY DEF 14A filed Apr 8, 2009.

What is the impact of an exchange on the Company’s stockholders?

Although we are unable to predict the precise impact the ability to perform stock option exchanges could have on our stockholders because we are unable to predict whether or how often the Compensation Committee might initiate an exchange and whether eligible employees who are selected will participate and to what extent with their eligible awards, our stockholders can expect the following:

 

   

The Company’s current overhang will be reduced as a result of any authorized exchange;

 

   

Alignment of employee and stockholder interests through longer term replacement awards that will provide renewed incentive to employees; and

 

   

In no case would the replacement awards authorized by the Compensation Committee in any given fiscal year exceed 1.4% of the Company’s outstanding shares of common stock as of the end of the prior fiscal year.

 

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