12. February, 2004 - WAM!NET options

In an interesting twist, it appears as though the tale of the only stock options I ever received may be drawing to an end. Back in January 1999, when WAM!NET laid me off, I had the choice of whether to exercise my stock options or not. I did, buying 2500 shares at $0.96 each. Last week I received notice that I have two choices of what to do with those shares: cash them out at $0.25 each; or convert them to some other form of note that might pay me $0.50 each at some time in the future. It’s all part of a fairly massive restructuring of the company, with the hopes that the new owners might have a chance of keeping it afloat. I haven’t decided for sure, but I’m probably going to take the cash and run. I think it’s time to close the books on that particular chapter of my life.

Copyright 2009, Dave Polaschek. Last updated on Mon, 15 Feb 2010 13:56:04.