Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Tuesday, November 6, 2007

Countrywide Extends Exercise Periods for Stock Options

Countrywide Financial Corp. extended the exercise dates of stock options held by employees for one to two years; otherwise, many of the options might have expired with the strike prices above the market price.  The company said it was necessary to retain valued employees.  The extensions do not apply to options held by the CEO and CFO.  In an October conference call, CEO Mozilo indicated that executives were considering personal purchases of the stock to show their confidence in the company, but there are no records showing any purchases to date.  WSJ, Countrywide Extends Employees' Stock Options.

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