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Date

Tags:

Rule
801.10
Staff
Evan Storm
Response/Comments

We agree that the shares would be valued at the “Market Price.”

Question

From: Storm, Evan

Sent: Friday, May 12, 2017 2:15 PM

To: [Redacted]

Cc: Shaffer, Kristin; Carson, Timothy; Whitehead, Nora; Gillis, Diana L.

Subject: RE: Question regarding option exercise

[Redacted]

We agree that the shares would be valued at the “Market Price.”

Regards

Evan

From: [Redacted]

Sent: Friday, May 12, 2017 7:43 AM

To: Storm, Evan

Subject: Question regarding option exercise

Evan, if an optionholder plans to make a cashless exercise (as in the second part of interpretation #1704001), can you confirm that if the optionholder retains some or all of the shares (as opposed to selling all on the same day), then such newly-acquired shares would be valued at the “Market Price” (pursuant to 801.10(c)(1), since the “acquisition price” is $0), and not the current trading price?

[Redacted]

About Informal Interpretations

Informal interpretations provide guidance from previous staff interpretations on the applicability of the HSR rules to specific fact situations. You should not rely on them as a substitute for reading the Act and the Rules themselves. These materials do not, and are not intended to, constitute legal advice.

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