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The introduction of the RIBA's new Practical Experience Eligibility Criteria has resulted in a number of changes being made to the PEDR online recording facility. The changes will apply to all student users of the site, whether you have already started one or more record sheets (if you need to finish off a sheet that you have already started, please see the guide to completing unfinished sheets); whether you are logging in to start your next sheet; or whether you are using the system for the first time.

ESOs are usually granted at-the-money, i.e., the exercise price of the options is set to equal the market price of the underlying stock on the grant date.

Because the option value is higher if the exercise price is lower, executives prefer to be granted options when the stock price is at its lowest.

In comparison, had the options been granted at the year-end price when the decision to grant to options actually might have been made, the year-end intrinsic value would have been zero.

Backdating does not violate shareholder-approved option plans.

The Wall Street Journal (see discussion of article below) pointed out a CEO option grant dated October 1998.

The number of shares subject to option was 250,000 and the exercise price was (the trough in the stock price graph below.) Given a year-end price of , the intrinsic value of the options at the end of the year was (-) x 250,000 = ,750,000.Cases of backdating employee stock options have drawn public and media attention.According to a study by Erik Lie, a finance professor at the University of Iowa, more than 2,000 companies used options backdating in some form to reward their senior executives between 19.If the date of the oral agreement was reached is somehow significant, then mention it in the recitals of the written contract.stock options in the past have largely been closed by recent legislation, governmental agencies and the plaintiff's bar have dedicated significant resources in the past year to address past option backdating practices.Backdating is dating any document by a date earlier than the one on which the document was originally drawn up.