Would it be a material amendment to change the method of determining the exercise price for newly granted stock options?
NASDAQ would not consider it to be a material amendment to change the method of determining the exercise price for newly granted stock options to the closing market price on the date of the award when a plan provides for an exercise price of, for example: (i) the closing market price on the day prior to the grant date; (ii) the average of the high and low market price on the date of grant; or (iii) the average of the high and low market price on the date prior to the date of grant.
Related Questions
- 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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