Virtualization Technology News and Information
VMware's special shareholder meeting - stock options

Evidently, VMware held a special shareholder meeting yesterday to go over and approve a one-time stock option grant.  According to Seeking Alpha, the meeting only lasted about 20 minutes.

VMware was only holding a special meeting to vote on whether to approve a one-time stock option plan. Basically, the company's stock price has gone down significantly, causing most of its employees' options to be underwater. My understanding is the meeting yesterday was held because VMware wanted to replace the existing stock options with newer ones.

The CEO, Mark Peek, gave a short presentation, and the the stock option plan was approved after confirming a quorum.

With increased competition, lower than expected earnings and top executives leaving the company, VMware stock has been on the decline for the most part since its $125+ days.  As of Tuesday, the stock closed at $32.47.  The company's co-founder and chief scientist Dr. Mendel Rosenblum was the latest and probably the most troubling to leave.

Published Wednesday, September 10, 2008 6:08 AM by David Marshall
Filed under:
VMware's special shareholder meeting - stock options - (Author's Link) - September 10, 2008 7:31 AM
To post a comment, you must be a registered user. Registration is free and easy! Sign up now!
<September 2008>