Bank Handlowy introduces new stock option plan

This stock option plan is the first of its kind in the country which involves publicly traded companies. The agreement concerning the plan was signed last week for an unlimited period of time. The stock obtained through this program can be sold after a period of two to three years. The purchase price is set at the beginning of the implementation of the plan and depends on the share price listed on Wall Street, which c urrently stands at $48-49. Shareholders can also count on dividends which are paid out by Citigroup every quarter. During 2003, the company paid out $1.1 per share as dividends. US companies which grant stock options to their local employees include IBM and Oracle. Both decided to implement plans which would reward all employees and not just senior executives. (Parkiet, p. 1) A.K.