Tuesday, April 26, 2011

You know you've hit the fine print in the Annual Report when...

You run across this:

The fair value of the Long Term Incentive Plan tranche no. 6 and no. 6a at grant date has been calculated using a
Trinomial Lattice model for Bermudian options with discrete dividend parameters.

I think this means, "bend over, work unit".  Or else the cost of silver went way up again, we didn't see it coming, and we took it in the ass.

1 comment:

  1. I'm betting the "Bermudian options" refers to the action of moving the bulk of the Incentive Plan to a Bermudian bank. Bend over...

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