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Administration September 7, 2003
Chrysler May Park Executive Stock Option Program
July 9, 2003 (PLANSPONSOR.com) - DaimlerChrysler has
announced a review of its executive stock option plan and
considerations into putting an end to the program.
Reported by Eric Hazard
The review of the current stock option program is apparently spurred by new corporate governance rules in Germany, where DaimlerChrysler is headquartered. Among changes made to the overhauled German corporate governance system is the addition of a ceiling on stock option plans and changes to when options can be taken up, according to a Reuters report.
“We are reviewing the program. It could be that in the end the decision will be that we want to leave it as it is, or that we want to modify it,” a DaimlerChrysler spokesman told Reuters.
The announcement comes just one day after Microsoft Corp. said it would halt its practice of awarding stock options to employees and instead start issuing direct stock grants that would be expensed (See Microsoft Wants to Give Workers a Real Stock “Option” ).