Google employees take stock, make profit
If it wasn’t already good enough to work for a company as big and successful as Google, its employees have had a huge windfall this year. Those who exchanged their stock options in March are now looking at a huge profit margin.
Google announced plans to let 16,000 of its workers exchange their stock options in January when shares had tumbled from a November 2007 high of $741.79 to just $282.75. Google repriced its options on March 6 when shares had risen to $308.57.
And then something miraculous happened, as Google’s shares rose and rose until they reached $596.42 at the close of trading on Friday (Dec. 18). As noted by The Mercury News, this means each option has a profit of around $280.
And Google isn’t alone in experiencing this trend, with nine of the 15 other companies which repriced their options in the first part of the year now having seen dramatic price gains. How I wish I were a Google employee right now.
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