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If a plan is silent on repricings, would it be a material amendment if the company were to reprice outstanding stock options?

April 26, 2017Amendment COMPANY material Plan reprice repricings Silent stock options

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If a plan is silent on repricings, would it be a material amendment if the company were to reprice outstanding stock options?

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Yes. Unless a plan specifically authorizes repricing, or a similar action, any repricing of options would be a material amendment requiring shareholder approval pursuant to Listing Rule 5635(c).