QAD Swaps Employee Options

Santa Barbara-based QAD, a developer of software for the manufacturing industry, disclosed today that the firm has begun a stock options exchange for its employees. According to the firm, it will allow non-director employees, excluding its CEO, President, board members, and consultants, to participate in the exchange. The firm said it will allow those employees to exchange their outstanding stock options for a reduced number of new options, equal to the price of the firm's company stock on July 16th. QAD is one of a number of technology firms which have implemented stock options exchange and repricing efforts, after the drop in the stock markets last year.