Mexico’s Cemex sells options, issues more

Mexico’s Cemex sells options, issues more
Published: 21 December 2004

Cemex exercised about 136 million stock options on Monday, as part of its executive compensation program.    Cemex, the world’s third largest cement producer, exercised the options as part of a "long-term variable compensation program" for executives, in which new 7.5 year options were also given to the high-level employees.    The options on Monday were exercised at 78.35 pesos per share, and the newly issued options carry a strike price that is the equivalent of $0.50 higher, increasing by 5.5 percent every year.