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Good news, bad news

Our CEO at the Evil Banking Neighbor is sufficiently pleased with the company's performance this past year that he's giving all of us employees a grant of stock equaling 1% of their annual salary, which will go into a separate section of our 401(k) retirement plans, which means folks without said plans will now get them. In my case, it'll work out to four or five shares plus a fraction, if they decide to hand out fractional shares instead of cash. The bad news that offsets this is that they'll no longer be offering the periodic stock options that they used to hand out every few years, since the Finance Accounting & Standards Board now requires companies to expense stock options instead of either not counting them until exercised or...whatever else it was they did that kept them off the books. (Remember, I'm not an accountant, I only play one in the organizational chart.) I think this is a slightly better deal, myself, since stock options accounting is pretty arcane, and cashing the damn things in without getting bent over by the IRS can be quite a problem. So whenever I finally jump or get pushed from my current job, I'll have an extra $320 worth of stock in the Cardboard Box Fund for my pains.

Lord knows it's more of a raise than I'm likely to get from my bosses.



( 2 comments — Leave a comment )
Jan. 19th, 2005 06:57 pm (UTC)
...I wish I was back at Wells! I could use the money! (But then if I was still at Wells, I wouldn't need the money so badly...)

Thanks for the mention of the 401k. I've got about $7,000 in mine, and I really should talk to someone about making some changes so it grows a little faster.
Jan. 21st, 2005 02:10 am (UTC)
Re: Oooooh...
That would be a good idea. Wells is a good solid stock, but there are others as safe that will pump more money into the 401k faster.
( 2 comments — Leave a comment )