Options Trading Tutorial

Help! Employee stock options - do I own them now?

Hi there, I am new to shares and trading. Through my employer, I was eligible for stock options and the time has come to exercise (buy) the stock options. I'm leaving my employer soon (next week), and would like to check whether or not I currently own the shares. I have a few questions so please bear with me! 1. Can someone tell me what my portfolio means? 2. Based on the the information shown in my portfolio, does this mean I already own the stock options? 3. If I don't own the stock options, what action do I need to take to own the stock options? I'd like to do this before I leave my employer. ================================= My portfolio shows me the following: Action: Trade / Calculator Grant date: 01/01/10 Number: 123456 Type: Nonqual Status: Accepted Price: $4.50 Granted: 200 Exercisable: 200 Pending: 0 Estimated Market value: $xxxx ==============================

Public Comments

1. looks like it to me, since it says "exercisable." I'm not 100% sure because we don't have the signed agreement to reference to see if there is a claw-back provision where the employer can take it back.
2. Looks to me like you currently own 200 options. If you want to convert those options to common stock, you need to exercise the options at the strike price. If you want to convert to cash then exercise at the strike price and then sell the shares at market value.