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VRSN » Topics » Option Grants

This excerpt taken from the VRSN 10-K filed Feb 29, 2008.

Option Grants

The table below reflects the total number of options that will be vested after the equity acceleration described in the Agreement is implemented. All options listed in the “Unvested Options As Of Acceleration Date” column will be cancelled and revert to VeriSign as of the Termination Date. The table does not reflect how many options have been exercised nor does it reflect grants that were completely exercised or cancelled as of the day this Agreement was prepared.

 

Grant

Date

    Grant
Number		    Governing
Plan		    Total Options
Granted		    Accelerated
Options		   Vested Options
As Of
Acceleration Date		   Unvested Options
As Of
Acceleration Date

9/26/03

    21001048    2001 Plan    25,000    None   25,000   0

9/26/03

    B1002086    2001 Plan    28,187    None   28,187   0

8/31/04

    B1004072    2001 Plan    34,687    2,312   30,062   4,625

8/31/04

    B1004399    2001 Plan    32,812    2,187   28,437   4,375

12/17/04

    21004543    1998 Plan    25,000    1,5621   25,0002   0

8/2/05

    21005414    1998 Plan    90,000    5,6253   90,0004   0

5/16/06

    21008787    1998 Plan    40,000    2,500   17,500   22,500

8/1/06

    21009184    2006 Plan    90,000    5,625   33,750   56,250

8/7/07

    21009812    2006 Plan    88,118    None   0   88,118

 

1

These shares, along with all of the other shares in Option Grant #21004543, were accelerated by the VeriSign Board of Directors on December 29, 2005. However, at the time these shares were accelerated they remained subject to a no sale restriction. The no sale restriction will be removed from these 1,562 shares because such restriction would have been removed from 1,562 shares of this option grant between December 2, 2007 and March 1, 2008 if the employee had remained employed by VeriSign through March 1, 2008.

 

2

Although these options are vested, 6,250 of these options will continue to be subject to a no sale restriction as of the Acceleration Date. The no sale restriction was imposed by the VeriSign Board of Directors on December 29, 2005 at the time it accelerated the vesting of these options. Accordingly, the employee may purchase these options in accordance with the applicable stock option plan and stock option agreement, but he will be restricted from selling 6,250 of these options as of the Acceleration Date. Provided the employee purchases these vested options within the permissible period stated in the applicable option plan or option agreement, the no sale restriction on these options will be removed incrementally on the dates that these options would have vested if their vesting had not been accelerated.

 

3

These shares, along with all of the other shares in Option Grant #21005414, were accelerated by the VeriSign Board of Directors on December 29, 2005. However, at the time these shares were accelerated they remained subject to a no sale restriction. The no sale restriction will be removed from these 5,625 shares because such restriction would have been removed from 5,625 shares of this option grant between December 2, 2007 and March 1, 2008 if the employee had remained employed by VeriSign through March 1, 2008.

 

4

Although these options are vested, 33,750 of these options will continue to be subject to a no sale restriction as of the Acceleration Date. The no sale restriction was imposed by the VeriSign Board of Directors on December 29, 2005 at the time it accelerated the vesting of these options. Accordingly, the employee may purchase these options in accordance with the applicable stock option plan and stock option agreement, but he will be restricted from selling 33,750 of these options as of the Acceleration Date. Provided the employee purchases these vested options within the permissible period stated in the applicable option plan or option agreement, the no sale restriction on these options will be removed incrementally on the dates that these options would have vested if their vesting had not been accelerated.

 

11

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