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Enron Mail |
< Mr. Chairman, < I would like to offer a suggestion concerning the < severe errosion of value to those of us who were given stock options this < last December/January < < 1. It seems that those eligible to start this coming year-end are going to < be far better off than those of us who started last year......by a < considerable amount. < < In my case I had approx. 900 shares at a price < $80 (based on about < $25/share by Black-Scholes). < < If the stock does extremely well between now and Christmas it could be < at a price of say $40 and have a Black-Scholes value of say $18. Based < on these very rough < numbers, if I was starting in the plan this coming year end, I would < get 1000 shares at a price of $40. < < 2. MY SUGGESTION IS, THAT WE BE ALLOWED TO GIVE UP OUR EXISTING ESOP < RIGHTS AND BE ABLE TO RE-ENTER THE PLAN THIS YEAR. This then would be < based on 20% of our base salary versus the 25% of last year (but most < salary bases would be a little higher too). This should be an optional < choice. < < I am confident this would be an enormously popular move. < < < < Best Regards, < < < Terry Hare < < < NEPCO < <
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