Chelouche Options still deep under water
(Source:
Yediot Ahronot, Aug 10, ’01) The Israeli newspaper
Yediot Ahronot has published that Yoav Chelouche will
continue to keep the Scitex Stock Options after leaving the
company.Over the last 22 years at Scitex, 5 of which were as CEO,
Chelouche has amassed 362,000 options, convertible to Scitex
shares. If Yoav exercises all his options he can be the
happy owner of 0.8% of the overall Scitex shares. However, as a
result of the sharp drop in Scitex share price, his options are
still under water and exercising is not practical.
Chelouche’s option prices range is between $9.06 – $11.69
per share and is due to expire between Feb and Dec. 2002. Let’s
hope that his successor will turn the company around and will
double the share price from its current low of
around $6 a share.