TheCorporateCounsel.net

February 21, 2003

The NASPP just started conducting

The NASPP just started conducting an online survey regarding cashless exercises after Section 402 of Sarbanes-Oxley. The early results are interesting…for example:

– Our company currently allows same-day-sale exercises by insiders.(Total responses: n=311)
n=183 (58.84%) Yes
n=121 (38.91%) No

– Does your company allow insiders to use the broker(s) designated by the company?(Total responses: n=238)
n=143 (60.08%) Yes
n=22 (9.24%) No
n=73 (30.67%) We don’t have a designated broker

– Did you discontinue cashless exercises after the adoption of Section 402 of Sarbanes-Oxley?(Total responses: n=189)
n=121 (64.02%) Yes
n=69 (36.51%) No

This survey runs until mid-March – please participate (it is not limited to NASPP members) by going to http://www.naspp.com/survey/2/doSurvey.asp?SurveyNo=4.