Thursday, September 7, 2006

Broadcom Extends Stock Option Revisions to June 1998, Sees Additional Charges

Broadcom announced plans to record an option-compensation expense of at least $1.5 billion, more than double its previous estimate. The company said that although its stock option award review is still ongoing, it has identified additional stock option grants for which the measurement dates differ from those originally used to record such awards. The grants at issue were awarded between June 1998 and May 2003.