This is the last that I'll talk about this subject but just to highlight the dangers of constantly reloading executive options, here is a link to an article on the problems and a small excerpt.
Once Seen as a Reform, They Grew Into Font of Riches And System to Be Gamed
By
MARK MAREMONT and
CHARLES FORELLE
Updated Dec. 27, 2006 12:01 a.m. ET
Eugene Isenberg is the little-known chief executive of a modest-sized oil-services company in Houston. But he stands out in one way: He is among the highest-paid corporate executives in history. In the past 19 years, he has pocketed more than $450 million.
The key to this wealth: stock options, in abundance. His employer,Nabors Industries Ltd., has lavished more than 25 million options on him over the years.
They became lucrative partly because of Nabors's generally rising stock price, but also because of some controversial moves that gave the options more punch. When Nabors's stock fell below the price at which the options could be exercised, temporarily making them worthless, Nabors let him trade in some of his options for new ones with lower exercise prices. And when Mr. Isenberg cashed some options in, Nabors "reloaded" him, replacing those he'd exercised with the same number of new ones.
FAR Price at posting:
9.7¢ Sentiment: Buy Disclosure: Held
(20min delay)