(August 3 – 17:30 ET) – C.I. Fund Management Inc. has had a tremendous run over the past year. The strong performance has left some of its employees sitting on large options gains.
C.I. filed its annual financial statements today indicating that the firm has 6.8 million options outstanding at an average strike price of $9.55. The exerciseable portion of that pool is 1,615,225 options. Of the exercisable portion, 582,000 options can be exercise at an average price of $4.38, 948,225 can be exercised at $7.50, and the remaining 85,000 are exercisable at an average price of $9.66.
C.I. is currently trading around its all-time high of $30, implying that C.I. executives and employees are sitting on a total of more than $139 million in prospective options gains, about $37.9 million of it available now.
During fiscal 2000, 2,724,000 options were exercised at an average strike price of $3.90. Based on its trading through the year, C.I. employees may have enjoyed gains of anywhere between $11.2 million and $62.9 million.
-IE Staff