1999•National Bureau of Economic ResearchOpen access

Valuing the Reload Features of Executive Stock Options

Steven J. Huddart, Ravi Jagannathan, Jane Saly

Abstract

An earlier version of this paper, by Jagannathan and Saly, was titled "Ignoring reload features can substantially understate the value of executive stock option."Huddart extended the analysis to consider cases of multiple and unrestricted downloads.Jagannathan and Saly thank Bob McDonald for helpful discussions.Huddart particularly thanks Bob Whaley for helpful insights and encouragement.

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Key concepts: Binomial options pricing model, Accounting, Stock options, Feature (linguistics), Fair value, Value (mathematics), Actuarial science, Financial statement