Crocs to take one-time charge on employee stock options offer
Crocs (Nasdaq: CROX) said it would take a one-time charge for a cash tender offer for employee stock options that is effective immediately and ends on April 30.
The company said stock options eligible for tender must have an exercise price of at least $10.50 per share. About 5 million stock options are eligible for tender. If all options are tendered and accepted in the offer, the cash purchase price would be $315,000.
The company will take a one-time charge of no more than $32 million at the offering's closing if all unvested eligible options are tendered and accepted by the company.
The charge will be reflected for the fiscal quarter in which the tender offer closes, which is expected to be the fiscal second quarter.
--Compiled by Wendy Geister
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