Cancellation of stock options

Paul Shapiro's Profile
Paul Shapiro (Consultant, Paul G. Shapiro, CPA)
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Paul Shapiro
Title: Consultant
Company: Paul G. Shapiro, CPA
| Jan 18, 2012

If an employee leaves in 2012 but has 90 days to exercise their vested ISO's, do we show their unvested shares as Cancelled as of 12/31/11, or do we have to wait until the termination date?

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Answers

Joan Varrone's Profile
Joan Varrone (CFO)
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Joan Varrone
Title: CFO
Company:
| May 14, 2012

You have to wait until the termination date as they have the right to exercise

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jason chroman's Profile
jason chroman (finance director, streetline)
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jason chroman
Title: finance director
Company: streetline
| May 16, 2012

I would show the unvested shares as cancelled at 12/31/11, as there is no way that they could ever be exercised.

The vested shares should remain outstanding until they either expire or are exercised.

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