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VRSN » Topics » STOCK OPTIONS

This excerpt taken from the VRSN 10-Q filed Jul 12, 2007.

STOCK OPTIONS

 

  •  

Under the 2006 Equity Incentive Plan (“2006 Plan”), all director equity awards are discretionary. From time to time, the Compensation Committee will review the status of Board compensation in relation to other similarly situated U.S. public companies.

This excerpt taken from the VRSN 10-K filed Mar 13, 2006.

STOCK OPTIONS

 

  1. Upon election as a director, the director shall receive a stock option grant of 25,000 shares (an “Initial Grant”) in accordance to the Company’s 1998 Directors Stock Option Plan (the “Directors Plan”).

 

  2. Each director will receive an annual refresh option grant of 12,500 shares in accordance to the Directors Plan (a “Succeeding Grant”) on the anniversary of the Initial grant (or most recent grant if such director did not receive an Initial Grant), so long as such director has served continuously as a member of the Board of Directors since the date of the Initial Grant (or most recent grant if such director did not receive an Initial Grant).

 

  3. The exercise price of any option granted under the Directors Plan shall be 100% of the fair market value of the Company’s common stock on the date of grant.

 

  4. All options granted under the Directors Plan will vest as to 6.25% of the shares each quarter after the date of grant, provided the optionee continues as a director or, if the Company so specifies in the grant, as a consultant of the Company.
This excerpt taken from the VRSN DEF 14A filed Apr 26, 2005.

Stock Options

 

The option grants under the Directors Plan are automatic and nondiscretionary, and the exercise price of the options is 100% of the fair market value of the common stock on the date of grant. Prior to the Amendment, each new Director who is eligible to participate was initially granted an option to purchase 25,000 shares of our common stock on the date the Director first becomes a member of the Board of Directors. These grants are referred to as “initial grants.” Prior to the Amendment, on each anniversary of the initial grant (or most recent grant if that Director did not receive an initial grant), each eligible Director was automatically be granted an additional option to purchase 12,500 shares of common stock so long as that Director served continuously as a member of the Board of Directors since the date of the initial grant (or most recent grant if that Director did not receive an initial grant).

 

All options granted under the Directors Plan will vest as to 6.25% of the shares each quarter after the date of grant, provided the optionee continues as a director, or if VeriSign so specifies in the grant, as a consultant of VeriSign.

 

Subject to Section 402 of the Sarbanes-Oxley Act of 2002, the exercise price of options granted under the Directors Plan may be paid as approved by the Board or Directors or by a committee appointed by the Board of Directors at the time of grant: (1) in cash (by check); (2) by cancellation of indebtedness of VeriSign to the participant; (3) by surrender of shares of VeriSign’s common stock owned by the participant for at least six months and having a fair market value on the date of surrender equal to the aggregate exercise price of the option; (4) by waiver of compensation due to or accrued by the participant for services rendered; (5) by a “same-day sale” commitment from the participant and a National Association of Securities Dealers, Inc., or NASD, broker; (6) by a “margin” commitment from the participant and a NASD broker; or (7) by any combination of the above, to the extent legally permitted.

 

This excerpt taken from the VRSN 10-K filed Mar 16, 2005.

STOCK OPTIONS

 

  1. Upon election as a director, the director shall receive a stock option grant of 50,000 shares (an “Initial Grant”) in accordance to the Company’s 1998 Directors Stock Option Plan (the “Directors Plan”) (subject to stockholder approval at the 2005 Annual Meeting of the Stockholders).

 

  2. Each director will receive an annual refresh option grant of 25,000 shares in accordance to the Directors Plan (a “Succeeding Grant”) on the anniversary of the Initial grant (or most recent grant if such director did not receive an Initial Grant) (subject to stockholder approval at the 2005 Annual Meeting of the Stockholders) so long as such director has served continuously as a member of the Board of Directors since the date of the Initial Grant (or most recent grant if such director did not receive an Initial Grant).

 

  3. The exercise price of any option granted under the Directors Plan shall be 100% of the fair market value of the Company’s common stock on the date of grant.

 

  4. All options granted under the Directors Plan will vest as to 6.25% of the shares each quarter after the date of grant, provided the optionee continues as a director or, if the Company so specifies in the grant, as a consultant of the Company.

EXCERPTS ON THIS PAGE:

10-Q
Jul 12, 2007
10-K
Mar 13, 2006
DEF 14A
Apr 26, 2005
10-K
Mar 16, 2005

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