According to their pre-proxy filing the top six with BBT did give up their bonuses for 2003, but it seems that they were issued 229,602 additional stock options in 2003 above what was issued in 2002. These were priced at $32.66. These are good until 2/25/2013.
If I'm correct there were 457,979 issued in 2002, but 687,581 issued in 2003.
Given a choice would I rather have 229,602 options at $32.66 good until 2/25/2003 or $2,826,507 in bonuses?
Closing price today was $37.37. That means the options difference is $4.71 today. $4.71 X 229,602 = $1,067,295. Doesn't this mean that I now have almost ten more years to make up the difference?