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Becton, Dickinson and Company Message Board

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  • mlledaae_2000 mlledaae_2000 Jan 15, 2000 3:41 PM Flag

    FEBRUARY 8TH MEETING

    There is no IRS requirement that the option
    exercise price has to be the market value on the day of
    grant. The only tax requirement is that incentive
    options (which the Castellini options are not ) must have
    an exercise price at least equal to market value.All
    options, incentive and nonqualified, can be granted with
    an exercise price higher than current market value.
    This however is not the point to quibble about. The
    outrage is the fact that Castellini was granted 100,000
    shares in Nov. at all. Grants are made once annually and
    he had already gotten a grant of 195,000 shares in
    Jan. As said earlier and your message agrees withs
    this, why is he staying as Chairman? From a substantive
    as well as a cosmetic standpoint,this is a major
    negative for BD and is one of the points that should be
    made by shareholders at the Feb. 8th annual meeting.

 
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