Fortune 500 CEOs Options Drowning Fast

The Washington Post tells us that the market carnage of the past year has put options held by 99 per cent of Fortune 500 CEOs firmly under water.

Small wonder then, that almost 100 companies have either repriced or plan to reprice options since the beginning of last year, according to Equilar, a compensation research firm.

As one might imagine, that’s a sharp jump from before the economy was a total train wreck. Equilar expects 21 companies will implement exchange or repricing programs in the first quarter of 2009, compared with only seven during the same period last year, the Post reports.

Google, of course, has launched its program that lets employees exchange their options for new ones with a strike price equal to Friday’s close, $308.57.

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