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Journal DaytonCIM's Journal: IPO 8

A few year back I worked for a startup company. Yup, had the options and everything. I was geared up to receive in the neighborhood of $10 million. Then Y2K and all that it brought and my options couldn't by me a 9cent cup of coffee.

Fast forward to today and... it looks like the company is back and *poof* my stock options have matured into Stock (far, far, far less than the original 10 million) and they're expecting to IPO this Winter...

Funny how things work out.

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  • so wait, how do options turn into stock? i thought they just expired.
    • The options matured and the CEO paid the cost to convert them, then let us know things were still viable.

      Turns out he's not a complete AHole. ;)
  • by sulli ( 195030 ) *
    I just got a notice that my long-ago underwater options were actually over water as well. Again not much but worth it to keep the paperwork!
  • Yeah, I hear you, except some of the stock options I had are now worthless because the company no longer exists.... :-( So, you are in a much better position than many of those who got hurt financially by the dot boom. But I have the same question as artifex2004..... how do expired options change into stock? That sort of thing typically gets companies into hot water with the SEC.

    • I was granted a block of options that vested over time by the ISP I worked for. They granted me another block, later, after a few people left. That second set went underwater, though. Then the company got taken private by a foreign buyer, so all my stock options suddenly had value again against the value the buyer paid per share. Sort of. supposedly, they technically didn't have to honor them, but they knew we'd all quit, because we were considered underpaid compared to the average, and the stock was a real
      • by BWJones ( 18351 ) *
        Good to hear and I truly hope that your stock value increases and makes you obscenely wealthy. :-) At the very least, I hope that your retirement is covered as that sort of comfort can do amazing things to ones outlook.

        • um... I sold all my stock in other stuff after the layoff. And the stock from the company no longer exists. My savings will be based on whatever I can make in my next jobs. But thanks, anyway :)
          If I ever get a chance to join another startup... I'll have to think about it :)
  • Hey, man, much less than 10 mil is still somethin'. ;)

    How's things going otherwise?

Consultants are mystical people who ask a company for a number and then give it back to them.