GOOG » Topics » Results of Googles Transferable Stock Option Program

This excerpt taken from the GOOG 10-Q filed May 6, 2009.

Results of Google’s Transferable Stock Option Program

Under our TSO program, which we launched in April 2007, eligible employees are able to sell vested stock options to participating financial institutions in an online auction as an alternative to exercising options in the traditional method and then selling the underlying shares. The following table provides information with respect to sales by our employees of TSOs during the three months ended March 31, 2009:

 

     Aggregate Amounts    Weighted Average Per Share Amounts

Period (1)

   Number of Shares
Underlying

TSOs Sold
   Sale
Price of
TSOs Sold
   TSO
Premium (2)
   Exercise
Price of
TSOs Sold
   Sale
Price of
TSOs Sold
   TSO
Premium (2)
          (in thousands)    (in thousands)               

January 1-31

   47,339    $ 5,959    $ 2,032    $ 279.36    $ 125.87    $ 42.91

February 1-28

   101,900      12,026      4,638      326.94      118.02      45.52

March 1-31

   —        —        —        —        —        —  
                                       

Total (except weighted average amounts)

   149,239    $ 17,985    $ 6,670    $ 311.85    $ 120.51    $ 44.69
                                       

 

(1) The TSO program is generally active during regular trading hours for The Nasdaq Stock Market when Google’s trading window is open. However, we have the right to suspend the TSO program at any time for any reason, including for maintenance and other technical reasons.

 

(2) TSO premium is calculated as the difference between (a) the sale price of the TSO and (b) the intrinsic value of the TSO, which we define as the excess, if any, of the price of our Class A common stock at the time of the sale over the exercise price of the TSO.

 

52


Table of Contents
ITEM 6. EXHIBITS

 

Exhibit
Number

 

Description

31.01    *

  Certification of Chief Executive Officer pursuant to Exchange Act Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

31.02    *

  Certification of Chief Financial Officer pursuant to Exchange Act Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

32.01    ‡

  Certifications of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

 

* Filed herewith.

 

Furnished herewith.

 

53


Table of Contents
This excerpt taken from the GOOG 10-Q filed Nov 7, 2008.

Results of Google’s Transferable Stock Option Program

Under our TSO program, which we launched in April 2007, eligible employees are able to sell vested stock options to participating financial institutions in an online auction as an alternative to exercising options in the traditional method and selling the underlying shares. The following table provides information with respect to sales by our employees of TSOs during the three month period ended September 30, 2008:

 

     Aggregate Amounts    Weighted-Average Per Share Amounts

Period (1)

   Number of Shares
Underlying
TSOs Sold
   Sale
Price of
TSOs Sold
   TSO
Premium (2)
   Exercise
Price of
TSOs Sold
   Sale
Price of
TSOs Sold
   TSO
Premium (2)
          (in thousands)    (in thousands)               

July 1-31

   27,027    $ 6,147    $ 1,160    $ 301.52    $ 227.42    $ 42.94

August 1-31

   88,353    $ 20,320    $ 3,990    $ 305.57    $ 229.99    $ 45.15

September 1-30

   —        —        —        —        —        —  
                                       

Total (except weighted-average amounts)

   115,380    $ 26,467    $ 5,150    $ 304.62    $ 229.39    $ 44.64
                                       

 

(1) The TSO program is generally active during regular NASDAQ trading hours when Google’s trading window is open. However, we have the right to suspend the TSO program at any time for any reason, including for maintenance and other technical reasons.

 

(2) TSO premium is calculated as the difference between (a) the sale price of the TSO and (b) the intrinsic value of the TSO, which we define as the excess, if any, of the price of our Class A common stock at the time of the sale over the exercise price of the TSO.

 

ITEM 6. EXHIBITS

 

Exhibit
Number

      

Description

          
31.01   *    Certification of Chief Executive Officer pursuant to Exchange Act Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2003
31.02   *    Certification of Chief Financial Officer pursuant to Exchange Act Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2003
32.01      Certifications of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2003

 

* Filed herewith.

 

Furnished herewith.

 

51


Table of Contents
This excerpt taken from the GOOG 10-Q filed Aug 7, 2008.

Results of Google’s Transferable Stock Option Program

Under our TSO program, which we launched in April 2007, eligible employees are able to sell vested stock options to participating financial institutions in an online auction as an alternative to exercising options in the traditional method and selling the underlying shares. The following table provides information with respect to sales by our employees of TSOs during the three month period ended June 30, 2008:

 

     Aggregate Amounts    Weighted-Average Per Share Amounts

Period (1)

   Number of Shares
Underlying
TSOs Sold
   Sale
Price of
TSOs Sold
   TSO
Premium (2)
   Exercise
Price of
TSOs Sold
   Sale
Price of
TSOs Sold
   TSO
Premium (2)
          (in thousands)    (in thousands)               

April 1-30

   145,509    $ 41,938    $ 5,168    $ 296.85    $ 288.22    $ 35.52

May 1-31

   165,813    $ 51,900    $ 5,796    $ 303.51    $ 313.00    $ 34.96

June 1-30

   —        —        —        —        —        —  
                                       

Total (except weighted-average amounts)

   311,322    $ 93,838    $ 10,964    $ 300.40    $ 301.42    $ 35.22
                                       

 

(1) The TSO program is generally active during regular NASDAQ trading hours when Google’s trading window is open. However, we have the right to suspend the TSO program at any time for any reason, including for maintenance and other technical reasons.

 

(2) TSO premium is calculated as the difference between (a) the sale price of the TSO and (b) the intrinsic value of the TSO, which we define as the excess, if any, of the price of our Class A common stock at the time of the sale over the exercise price of the TSO.

 

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

We held our 2008 Annual Meeting of Stockholder on May 8, 2008 at our corporate headquarters at 1600 Amphitheatre Parkway, Mountain View, California 94043. The following proposals were submitted to the stockholders:

 

   

the election of ten directors to serve for the ensuing year or until their successors are duly elected and qualified,

 

   

the ratification of Ernst & Young LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2008,

 

   

the approval of an amendment to our 2004 Stock Plan to increase the number of authorized shares of Class A common stock issuable under the 2004 Stock Plan from 22,431,660 to 28,931,660 shares,

 

   

to consider a stockholder proposal to request that management institute policies to help protect freedom of access to the internet; and

 

   

to consider a stockholder proposal to amend the Bylaws to establish a Board Committee on Human Rights.

 

51


Table of Contents

Holders of our Class A common stock are entitled to one vote per share and holders of our Class B common stock are entitled to ten votes per share and vote together as a single class on all matters (including the election of directors) submitted to a vote of stockholders, unless otherwise required by law. The holders of our common stock voted as follows:

This excerpt taken from the GOOG 10-Q filed May 12, 2008.

Results of Google’s Transferable Stock Option Program

Under our TSO program, which we launched in April 2007, eligible employees are able to sell vested stock options to participating financial institutions in an online auction as an alternative to exercising options in the traditional method and selling the underlying shares. The following table provides information with respect to sales by our employees of TSOs during the three month period ended March 31, 2008:

 

     Aggregate Amounts    Weighted-Average Per Share Amounts

Period (1)

   Number of Shares
Underlying
TSOs Sold
   Sale
Price of
TSOs Sold
   TSO
Premium (2)
   Exercise
Price of

TSOs Sold
   Sale
Price of
TSOs Sold
   TSO
Premium (2)
          (in thousands)    (in thousands)               

January 1-31

   —        —        —        —        —        —  

February 1-29

   66,400    $ 19,789    $ 2,756    $ 298.10    $ 241.26    $ 41.52

March 1-31

   —        —        —        —        —        —  
                                       

Total (except weighted-average amounts)

   66,400    $ 19,789    $ 2,756    $ 298.10    $ 241.26    $ 41.52
                                       

 

(1) The TSO program is generally active during regular NASDAQ trading hours when Google’s trading window is open. However, we have the right to suspend the TSO program at any time for any reason, including for maintenance and other technical reasons.

 

(2) TSO premium is calculated as the difference between (a) the sale price of the TSO and (b) the intrinsic value of the TSO, which we define as the excess, if any, of the price of our Class A common stock at the time of the sale over the exercise price of the TSO.

 

47


Table of Contents
ITEM 6. EXHIBITS

 

Exhibit
Number

       

Description

31.01

   *    Certification of Chief Executive Officer pursuant to Exchange Act Rules 13a-14 (a) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2003

31.02

   *    Certification of Chief Financial Officer pursuant to Exchange Act Rules 13a-14 (a) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2003

32.01

      Certifications of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2003

 

* Filed herewith.

 

Furnished herewith.

 

48


Table of Contents
This excerpt taken from the GOOG 10-Q filed Nov 7, 2007.

Results of Google’s Transferable Stock Option Program

Under our transferable stock option (TSO) program, which we launched in April 2007, eligible employees are able to sell vested stock options to participating financial institutions in an online auction as an alternative to exercising options in the traditional method and selling the underlying shares. The following table provides information with respect to sales by our employees of TSOs during the three month period ended September 30, 2007:

 

     Aggregate Amounts    Weighted-Average Per Share Amounts

Period (1)

   Number of Shares
Underlying
TSOs Sold
  

Sale

Price of
TSOs Sold

   TSO
Premium (2)
  

Exercise
Price of

TSOs Sold

   Sale
Price of
TSOs Sold
   TSO
Premium (2)
          (in thousands)    (in thousands)               

July 1 – 31

   52,590    $ 15,059    $ 1,670    $ 259.71    $ 286.35    $ 31.76

August 1 – 31

   133,671    $ 37,959    $ 4,183    $ 260.18    $ 283.98    $ 31.29

September 1 – 30

   —        —        —        —        —        —  
                                       

Total

   186,261    $ 53,018    $ 5,853    $ 260.05    $ 284.65    $ 31.42
                                       

(1) The TSO program is generally active during regular NASDAQ trading hours when Google’s trading window is open. However, we have the right to suspend the TSO program at any time for any reason, including for maintenance and other technical reasons.

 

(2) TSO premium is calculated as the difference between (a) the sale price of the TSO and (b) the intrinsic value of the TSO, which we define as the excess, if any, of the price of our Class A common stock at the time of the sale over the exercise price of the TSO.

 

ITEM  6. EXHIBITS

 

Exhibit
Number
       

Description

 

Incorporated by reference herein

       

Form

 

Date

31.01    *    Certification of Chief Executive Officer pursuant to Exchange Act Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2003    
31.02    *    Certification of Chief Financial Officer pursuant to Exchange Act Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2003    
32.01       Certifications of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2003    

* Filed herewith.

 

Furnished herewith.

 

47


Table of Contents
This excerpt taken from the GOOG 10-Q filed Aug 9, 2007.

Results of Google’s Transferable Stock Option Program

Under our transferable stock option (TSO) program, which launched in April 2007, eligible employees are able to sell vested stock options to participating financial institutions in an online auction as an alternative to exercising options in the traditional method and selling the underlying shares. The following table provides information with respect to sales by our employees of TSOs during the three month period ended June 30, 2007:

 

     Aggregate Amounts    Weighted-Average Amounts

Period (1)(3)

  

Number of Shares
Underlying
TSOs Sold

  

Sale

Price of
TSOs Sold

   TSO
Premium (2)
  

Exercise
Price of

TSOs Sold

   Sale
Price of
TSOs Sold
   TSO
Premium (2)
          (in thousands)    (in thousands)               

April 1 - 30

   125,311    $ 30,716    $ 4,057    $ 268.14    $ 245.12    $ 32.37

May 1 – 31

   228,282    $ 60,007    $ 6,674    $ 250.31    $ 262.86    $ 29.24

June 1 – 30

   —        —        —        —        —        —  
                                       

Total

   353,593    $ 90,723    $ 10,731    $ 256.63    $ 256.58    $ 30.35
                                       

(1) The TSO program is generally active during regular NASDAQ trading hours when Google’s trading window is open. However, we have the right to suspend the TSO program from time to time for any reason, including for maintenance and other technical reasons.

 

(2) TSO premium is calculated as the difference between (a) the sale price of the TSO and (b) the intrinsic value of the TSO, which we define as the excess, if any, of the price of our Class A common stock at the time of the sale over the exercise price of the TSO.

 

(3) In the beta test of our TSO program in February 2007, our employees sold 73 shares underlying TSOs for an aggregate price and aggregate TSO premium of $4,814. The weighted average exercise price of these TSOs was $525.45 per share and the weighted average sale price and weighted average TSO premium was $65.95 per share.

 

43


Table of Contents
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

We held our 2007 Annual Meeting of Stockholder on May 10, 2007 at our corporate headquarters at 1600 Amphitheatre Parkway, Mountain View, California 94043. The following proposals were submitted to the stockholders:

 

   

the election of ten directors to serve for the ensuing year or until their successors are duly elected and qualified,

 

   

the ratification of Ernst & Young LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2007,

 

   

the approval of an amendment to our 2004 Stock Plan to increase the number of authorized shares of Class A common stock issuable under the 2004 Stock Plan from 17,931,660 to 22,431,660 shares,

 

   

the approval of our Executive Bonus Plan, and

 

   

to consider a stockholder proposal to request that management institute policies to help protect freedom of access to the internet.

Holders of our Class A common stock are entitled to one vote per share and holders of our Class B common stock are entitled to ten votes per share and vote together as a single class on all matters (including the election of directors) submitted to a vote of stockholders, unless otherwise required by law. The holders of our common stock voted as follows:

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki