Google Employees Can Auction Stock Options Online
Sara Kehaulani Goo of the Washington Post reports that Google is now letting its employees sell stock options by auctioning them off the Google way, online.
Google to Let Workers Sell Options Online
In keeping with its offbeat approach to business, the search-engine firm plans to create an online auction for its 9,000 employees to sell their stock options to financial institutions. The goal is to give workers a new avenue to cash in on Google’s stock, which has increased five-fold since the company went public two years ago.
Investment experts called the idea creative and said other firms might follow suit if Google’s plan succeeds.
The private online auction is to be managed by Morgan Stanley and accessible only by Google employees and the participating investment banks.
Google executives said the plan is designed partly to help employees understand the value of their stock options, which may be higher than the share price on Wall Street.
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