Microsoft begins option trade-in program
C|Net | at | by Mike
Microsoft has begun signing up employees for a program that lets workers trade in their "underwater" stock options for cash. The program, which Microsoft announced in July as part of a sweeping change to its stock compensation policy, lets workers trade in options that have an exercise price of at least $33 and don't expire until Feb. 29, at the earliest. In a filing made Wednesday with the Securities and Exchange Commission, Microsoft said it has begun a 20-day period in which employees can decide whether to sell underwater stock options to J.P. Morgan Chase.