Apple Offers Option Holders a Choice

Apple announced on Friday that it has offered to amend certain options granted under its employee plan which will give participants the choice to raise the exercise price and receive a cash payment, according to DOW JONES on Friday.

"Participants in the Cupertino, Calif., computer and digital music companyis program may elect to increase the exercise price per share to the fair market value," the filing said. "Participants will receive a cash payment equal to the difference between the new exercise price and the original exercise price per share."

The payments will be made after January 25, 2008.