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Frequently Asked Questions
  Does a "value for value" exchange require shareholder approval?
Identification Number 222
Yes. Unless the plan authorizes it, such an exchange would be considered a material amendment that requires shareholder approval. An example of this type of exchange is where outstanding options are valued according to a pricing model and the optionees receive, in exchange for their options, shares of stock equal in value to the calculated value of the stock options.
Publication Date*: 7/31/2012 Mailto Link Identification Number: 222
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