The fair value of the common stock underlying the stock - based awards is determined by our board of directors, which considered numerous objective and subjective factors to determine the fair
value of common stock at each grant date.
Under the 1996 Plan 30,000 fully vested stock options remain outstanding and unexercised, all at exercise prices higher than the fair market
value of the common stock at June 30, 2009.
Not exact matches
From the inception
of our
Stock Repurchase Program through April 27, 2018, we repurchased approximately 23.7 million shares of our common stock at an aggregate market value of approximately $ 1.5 bil
Stock Repurchase Program through April 27, 2018, we repurchased approximately 23.7 million shares
of our
common stock at an aggregate market value of approximately $ 1.5 bil
stock at an aggregate market
value of approximately $ 1.5 billion.
Such risks, uncertainties and other factors include, without limitation: (1) the effect
of economic conditions in the industries and markets in which United Technologies and Rockwell Collins operate in the U.S. and globally and any changes therein, including financial market conditions, fluctuations in commodity prices, interest rates and foreign currency exchange rates, levels
of end market demand in construction and in both the commercial and defense segments
of the aerospace industry, levels
of air travel, financial condition
of commercial airlines, the impact
of weather conditions and natural disasters and the financial condition
of our customers and suppliers; (2) challenges in the development, production, delivery, support, performance and realization
of the anticipated benefits
of advanced technologies and new products and services; (3) the scope, nature, impact or timing
of acquisition and divestiture or restructuring activity, including the pending acquisition
of Rockwell Collins, including among other things integration
of acquired businesses into United Technologies» existing businesses and realization
of synergies and opportunities for growth and innovation; (4) future timing and levels
of indebtedness, including indebtedness expected to be incurred by United Technologies in connection with the pending Rockwell Collins acquisition, and capital spending and research and development spending, including in connection with the pending Rockwell Collins acquisition; (5) future availability
of credit and factors that may affect such availability, including credit market conditions and our capital structure; (6) the timing and scope
of future repurchases
of United Technologies»
common stock, which may be suspended
at any time due to various factors, including market conditions and the level
of other investing activities and uses
of cash, including in connection with the proposed acquisition
of Rockwell; (7) delays and disruption in delivery
of materials and services from suppliers; (8) company and customer - directed cost reduction efforts and restructuring costs and savings and other consequences thereof; (9) new business and investment opportunities; (10) our ability to realize the intended benefits
of organizational changes; (11) the anticipated benefits
of diversification and balance
of operations across product lines, regions and industries; (12) the outcome
of legal proceedings, investigations and other contingencies; (13) pension plan assumptions and future contributions; (14) the impact
of the negotiation
of collective bargaining agreements and labor disputes; (15) the effect
of changes in political conditions in the U.S. and other countries in which United Technologies and Rockwell Collins operate, including the effect
of changes in U.S. trade policies or the U.K.'s pending withdrawal from the EU, on general market conditions, global trade policies and currency exchange rates in the near term and beyond; (16) the effect
of changes in tax (including U.S. tax reform enacted on December 22, 2017, which is commonly referred to as the Tax Cuts and Jobs Act
of 2017), environmental, regulatory (including among other things import / export) and other laws and regulations in the U.S. and other countries in which United Technologies and Rockwell Collins operate; (17) the ability
of United Technologies and Rockwell Collins to receive the required regulatory approvals (and the risk that such approvals may result in the imposition
of conditions that could adversely affect the combined company or the expected benefits
of the merger) and to satisfy the other conditions to the closing
of the pending acquisition on a timely basis or
at all; (18) the occurrence
of events that may give rise to a right
of one or both
of United Technologies or Rockwell Collins to terminate the merger agreement, including in circumstances that might require Rockwell Collins to pay a termination fee
of $ 695 million to United Technologies or $ 50 million
of expense reimbursement; (19) negative effects
of the announcement or the completion
of the merger on the market price
of United Technologies» and / or Rockwell Collins»
common stock and / or on their respective financial performance; (20) risks related to Rockwell Collins and United Technologies being restricted in their operation
of their businesses while the merger agreement is in effect; (21) risks relating to the
value of the United Technologies» shares to be issued in connection with the pending Rockwell acquisition, significant merger costs and / or unknown liabilities; (22) risks associated with third party contracts containing consent and / or other provisions that may be triggered by the Rockwell merger agreement; (23) risks associated with merger - related litigation or appraisal proceedings; and (24) the ability
of United Technologies and Rockwell Collins, or the combined company, to retain and hire key personnel.
On April 25th, 2018, Globalstar announced that it has signed a merger agreement with Thermo Acquisitions, Inc., pursuant to which the following assets will be combined with the former: metro fiber provider FiberLight, LLC; 15.5 million shares
of common stock of CenturyLink, Inc.; $ 100 million
of cash and minority investments in complementary businesses and assets
of $ 25 million in exchange for Globalstar's
common stock valued at approximately $ 1.65 billion, subject to adjustments.
The initial public offering price for our
common stock will be determined through our negotiations with the underwriters and may not bear any relationship to the market price
at which our
common stock will trade after this offering or to any other established criteria
of the
value of our business.
With virtually identical market capitalization (the price it would take to buy all shares
of a company's outstanding
common stock at the current market
value), what exactly is an investor in each respective firm getting for his or her money?
A
stock appreciation right entitles a participant to receive a payment, in cash,
common stock, or a combination
of both, in an amount equal to the difference between the fair market
value of the
stock at the time
of exercise and the exercise price
of the award, which may not be lower than the fair market
value of the Company's
common stock on the day
of grant.
The future
value of our Class A
common stock will depend to a large degree on our business and financial performance, and we can not assure you that the price
of our Class A
common stock will equal or exceed the price
at which our securities have traded on these private secondary markets.
In August 2012, to create incentives for continued long - term success from the then - recently launched Model S program as well as from Tesla's then - planned Model X and Model 3 programs, and to further align executive compensation with increases in stockholder
value, the Board granted to Mr. Musk a
stock option award to purchase 5,274,901 shares
of Tesla's
common stock (the «2012 CEO Performance Award»), representing 5 %
of Tesla's total issued and outstanding shares
at the time
of grant.
Domini Social Investments, 532 Broadway, 9th Floor, New York, New York 10012, beneficial owner
of at least $ 2,000 in market
value of shares
of Common Stock, is the proponent
of the following shareholder proposal.
That October, Buffett exercised all
of its warrants to purchase 10.7 million shares
of GE's
common stock, a position
valued at $ 264.76 million based on the closing price on the date the shares were delivered.
Under applicable tax rules, an employee may purchase no more than $ 25,000 worth
of shares
of common stock,
valued at the start
of the purchase period, under the ESPP in any calendar year.
Pursuant to the policy, as revised in February 2009,
at each annual meeting
of our stockholders, provided that the director has served on the Board for
at least six months prior to the annual meeting, a non-employee director would be granted RSUs having a
value equal to $ 225,000 divided by the lesser
of (i) the trailing average closing trading prices
of our
common stock for the 180 - day period preceding and ending with the date
of the RSU grant or (ii) such number
of RSUs as the Board may determine based on additional criteria such as business conditions and / or company performance, outside director compensation practices
at peer companies and advice from outside compensation consultants.
The 2004 Plan permits the grant
of the following types
of Awards: (1) nonstatutory
stock options, incentive
stock options and
stock appreciation rights granted
at the fair market
value of our common stock on the date of grant (Fair Market Value Awards), and (2) restricted stock awards and restricted stock units (Full Value Awa
value of our
common stock on the date
of grant (Fair Market
Value Awards), and (2) restricted stock awards and restricted stock units (Full Value Awa
Value Awards), and (2) restricted
stock awards and restricted
stock units (Full
Value Awa
Value Awards).
Norges Bank Investment Management, a division
of Norges Bank, the central bank
of the Government
of Norway, P.O. Box 1179 Sentrum, 0107 Oslo, Norway, which held on November 22, 2011, shares
of common stock having a market
value of at least $ 2,000, intends to submit a resolution to stockholders for approval
at the annual meeting.
Prior to February 2009, the policy provided that
at each annual meeting
of our stockholders, provided that the director had served on the Board for
at least six months prior to the annual meeting, a non-employee director would be granted RSUs having a
value equal to $ 225,000 divided by the trailing average closing trading prices
of our
common stock for the 180 - day period preceding and ending with the date
of the RSU grant.
In addition to the non-employee director compensation policy, in connection with this offering, we adopted a director
stock ownership policy encouraging non-employee directors to hold shares
of our Class A
common stock with a
value equal to
at least one times the fair
value of the director's annual equity award.
Because there is no public market for our
common stock, our board
of directors determined the
common stock fair
value at the
stock option grant date by considering several objective and subjective factors, including the price paid by investors for our preferred
stock, our actual and forecasted operating and financial performance, market conditions and performance
of comparable publicly traded companies, developments and milestones in our company, the rights and preferences
of our
common and preferred
stock, the likelihood
of achieving a liquidity event, and transactions involving our preferred
stock.
Provided, however, that an incentive
stock option held by a participant who owns more than 10 %
of the total combined voting power
of all classes
of our
stock, or
of certain
of our parent or subsidiary corporations, may not have a term in excess
of five years and must have an exercise price
of at least 110 %
of the fair market
value of our
common stock on the grant date.
Stock appreciation rights provide for a payment, or payments, in cash or shares of our Class A common stock, to the holder based upon the difference between the fair market value of our Class A common stock on the date of exercise and the stated exercise price at grant up to a maximum amount of cash or number of sh
Stock appreciation rights provide for a payment, or payments, in cash or shares
of our Class A
common stock, to the holder based upon the difference between the fair market value of our Class A common stock on the date of exercise and the stated exercise price at grant up to a maximum amount of cash or number of sh
stock, to the holder based upon the difference between the fair market
value of our Class A
common stock on the date of exercise and the stated exercise price at grant up to a maximum amount of cash or number of sh
stock on the date
of exercise and the stated exercise price
at grant up to a maximum amount
of cash or number
of shares.
Given the absence
of a public trading market
of our
common stock, and in accordance with the American Institute
of Certified Public Accountants Accounting and Valuation Guide, Valuation
of Privately - Held Company Equity Securities Issued as Compensation, our board
of directors exercised reasonable judgment and considered numerous and subjective factors to determine the best estimate
of fair
value of our
common stock, including independent third - party valuations
of our
common stock; the prices
at which we sold shares
of our convertible preferred
stock to outside investors in arms - length transactions; the rights, preferences, and privileges
of our convertible preferred
stock relative to those
of our
common stock; our operating results, financial position, and capital resources; current business conditions and projections; the lack
of marketability
of our
common stock; the hiring
of key personnel and the experience
of our management; the introduction
of new products; our stage
of development and material risks related to our business; the fact that the option grants involve illiquid securities in a private company; the likelihood
of achieving a liquidity event, such as an initial public offering or a sale
of our company given the prevailing market conditions and the nature and history
of our business; industry trends and competitive environment; trends in consumer spending, including consumer confidence; and overall economic indicators, including gross domestic product, employment, inflation and interest rates, and the general economic outlook.
All
stock options and
stock appreciation rights will have an exercise price equal to
at least the fair market
value of our
common stock on the date the
stock option or
stock appreciation right is granted, except in certain situations in which we are assuming or replacing options granted by another company that we are acquiring.
In addition to the non-employee director compensation policy, we intend to adopt a director
stock ownership policy encouraging non-employee directors to hold shares
of our Class A
common stock with a
value equal to
at least one times the fair
value of the director's annual equity award.
Since the number
of shares
of common stock ultimately issuable under the warrant will vary, this warrant will be carried
at its estimated fair
value with changes in fair
value reflected in other income (expense), net, until its expiration or exercise.
For the initial offering, which we expect will commence on the execution and delivery
of the underwriting agreement relating to this offering, the fair market
value on the first day
of the offering period will be the price
at which shares
of Class A
common stock are first sold to the public.
Common stock - On March 9, 2017, the Company issued (i) 125,000 shares of its common stock in exchange for consulting services, valued at $ 200,000, and (ii) 125,000 shares of its common stock for investments in cryptocurrency, valued at $ 10
Common stock - On March 9, 2017, the Company issued (i) 125,000 shares
of its
common stock in exchange for consulting services, valued at $ 200,000, and (ii) 125,000 shares of its common stock for investments in cryptocurrency, valued at $ 10
common stock in exchange for consulting services,
valued at $ 200,000, and (ii) 125,000 shares
of its
common stock for investments in cryptocurrency, valued at $ 10
common stock for investments in cryptocurrency,
valued at $ 100,000.
On June 14, 2017, the Company transferred an aggregate
of 129,238 shares
of common stock of its parent company Croe, held in treasury by the Company, to certain officers and consultants
of the Company in exchange for their services in connection with the Transaction,
valued at $ 258,476 based on the fair
value of the shares on the measurement date.
At the time
of the tender offer, the fair
value of the Company's
common stock was $ 12.95 per share and the fair
value of the Company's Series A through F convertible preferred
stock ranged from $ 12.95 to $ 14.51 per share.
The exercise price must be
at least equal to the fair market
value of our
common stock on the date the
stock appreciation right is granted.
On March 9, 2017, the Company issued 125,000 shares
of common stock of the Company to an employee
of the Company, in exchange for an initial investment made in the form
of cryptocurrency,
valued at $ 100,000, based on the fair
value of the investment on the date
of such investment.
The tender offer closed in September 2011, and
at the close
of the transaction, the Company recorded $ 34.7 million as compensation expense related to the excess
of the selling price per share
of common stock paid to the Company's employees and consultants over the fair
value of the tendered share, and $ 35.8 million as deemed dividends in relation to excess
of the selling price per share
of common and preferred
stock paid to existing investors in excess
of the fair
value of the shares tendered.
In addition, based on the fair
value of the shares
of common stock of the Company
at the time
of issuance, the Company recorded an additional $ 100,000
of share based compensation expense related to the transaction.
Pursuant to ASC 805 - 10, under the acquisition method, the total estimated purchase price (consideration transferred) as described in Note 3, Preliminary Purchase Price Allocation, is measured
at the acquisition closing date using the fair
value of the Company's
common stock on that date.
However, a participant may not purchase more than shares in each offering period and may not subscribe for more than $ 25,000 in fair market
value of shares
of our
common stock (determined
at the time the option is granted) during any calendar year.
If we consider the
common wisdom
of value investors — low P / E ratio
stocks have historically earned better returns —
at their current market price E * Trade and IB seem to be a better buy, but certainly, cheaper ones compared to TD or Schwab.
Nonstatutory
Stock Options, or NSOs, will provide for the right to purchase shares of our common stock at a specified price, which may not be less than fair market value on the date of grant, and usually will become exercisable (at the discretion of the administrator) in one or more installments after the grant date, subject to the participant's continued employment or service with us and / or subject to the satisfaction of corporate performance targets and individual performance targets established by the administr
Stock Options, or NSOs, will provide for the right to purchase shares
of our
common stock at a specified price, which may not be less than fair market value on the date of grant, and usually will become exercisable (at the discretion of the administrator) in one or more installments after the grant date, subject to the participant's continued employment or service with us and / or subject to the satisfaction of corporate performance targets and individual performance targets established by the administr
stock at a specified price, which may not be less than fair market
value on the date
of grant, and usually will become exercisable (
at the discretion
of the administrator) in one or more installments after the grant date, subject to the participant's continued employment or service with us and / or subject to the satisfaction
of corporate performance targets and individual performance targets established by the administrator.
Our accounting for acquisitions involves significant judgments and estimates, including the fair
value of certain forms
of consideration such as our
common stock, preferred
stock or warrants, the fair
value of acquired intangible assets, which involve projections
of future revenues, cash flows and terminal
value which are then discounted
at an estimated discount rate, the fair
value of other acquired assets and assumed liabilities, including potential contingencies, and the useful lives
of the assets.
The exercise price
of options granted under our 2013 Plan must
at least be equal to the fair market
value of our
common stock on the date
of grant.
The purchase price per share in the tender offer represented an excess to the fair
value of the Company's outstanding
common stock and Series A through Series F convertible preferred
stock, as determined by the Company's most recent valuation
of its capital
stock at time
of the transaction.
On March 9, 2017, the Company issued (i) 125,000 shares
of common stock of the Company to Redwood Fund LP («Redwood») in exchange for cash
of $ 200,000; and (ii) 125,000 shares
of common stock of the Company to Imperial Strategies, LLC («Imperial Strategies») in exchange for certain services rendered,
valued at $ 200,000, as
of the date
of such issuance.
The exercise price
of options granted under our 2014 Plan must
at least be equal to the fair market
value of our Class A
common stock on the date
of grant.
Benjamin Graham, the father
of value investing, once said, «The buyer
of common stocks must assure himself that he is not making his purchase
at a time when the general market level is a definitely high one, as judged by established standards
of common -
stock values.»
BOSTON (March 12, 2018)-- MFS Investment Grade Municipal Trust (the «fund»)(NYSE: CXH) announced today that it will conduct a cash tender offer to purchase up to 7.5 percent
of the fund's outstanding
common shares (the «shares»)
at a price per share equal to 98 percent
of the fund's net asset
value (NAV) per share as
of the close
of regular trading on the New York
Stock Exchange (NYSE) on the date the tender offer expires.
Although the company would only formally
value the
common stock at that price once it completes a so - called 409a valuation — which sometimes happens shortly after an acquisition like this, in part for tax purposes — this offer is almost certain to affect the so - called fair market
value of the company in its next 409a review.
Under HP's
stock ownership guidelines, non-employee directors are required to accumulate within five years
of election to the Board shares
of HP
common stock equal in
value to
at least five times the amount
of their annual cash retainer.
BVF Acquisition LLC (the «Purchaser»), a wholly owned subsidiary
of Biotechnology
Value Fund, L.P. («BVF»), announced today that it has commenced a cash tender offer to purchase any and all
of the outstanding
common stock of Avigen, Inc. (NasdaqGM: AVGN)(«Avigen») that BVF does not own
at a price
of $ 1.00 per share under the conditions described below.
Biotechnology
Value Fund, L.P. To Make Tender Offer For Any And All Outstanding Shares
Of Avigen At $ 1.00 Per Share Tender Offer provides stockholders with a near - term cash alternative if BVF nominees are elected BVF reaffirms support for downside - protected merger with MediciNova NEW YORK, Jan. 15 / PRNewswire / — Biotechnology Value Fund, L.P. («BVF») announced today that it intends to make a cash tender offer to purchase any and all of the outstanding common stock of Avigen, Inc. (Nasdaq: AVGN — News; «Avigen») that BVF does not own at a price of $ 1.00 per share under the conditions described belo
Of Avigen
At $ 1.00 Per Share Tender Offer provides stockholders with a near - term cash alternative if BVF nominees are elected BVF reaffirms support for downside - protected merger with MediciNova NEW YORK, Jan. 15 / PRNewswire / — Biotechnology Value Fund, L.P. («BVF») announced today that it intends to make a cash tender offer to purchase any and all of the outstanding common stock of Avigen, Inc. (Nasdaq: AVGN — News; «Avigen») that BVF does not own at a price of $ 1.00 per share under the conditions described belo
At $ 1.00 Per Share Tender Offer provides stockholders with a near - term cash alternative if BVF nominees are elected BVF reaffirms support for downside - protected merger with MediciNova NEW YORK, Jan. 15 / PRNewswire / — Biotechnology
Value Fund, L.P. («BVF») announced today that it intends to make a cash tender offer to purchase any and all
of the outstanding common stock of Avigen, Inc. (Nasdaq: AVGN — News; «Avigen») that BVF does not own at a price of $ 1.00 per share under the conditions described belo
of the outstanding
common stock of Avigen, Inc. (Nasdaq: AVGN — News; «Avigen») that BVF does not own at a price of $ 1.00 per share under the conditions described belo
of Avigen, Inc. (Nasdaq: AVGN — News; «Avigen») that BVF does not own
at a price of $ 1.00 per share under the conditions described belo
at a price
of $ 1.00 per share under the conditions described belo
of $ 1.00 per share under the conditions described below.
Parity price: For convertible securities, the price level
at which their exchange
value equals that
of the
common stock.
G&D point to the attraction
of acquiring
common stocks at prices below liquidating
value, especially prices below net, net current assets.