FormFactor to hold vote on option repricing

East Bay Business Times

http://www.bizjournals.com/eastbay/stories/2008/09/01/daily33.html

FormFactor Inc.
will hold a special stockholders meeting in October to vote on a stock
option exchange program, the company told employees Wednesday.

The option exchange program, if approved by shareholders, would
allow employees to exchange certain options with an exercise price of
$30 or above for either restricted stock units or new options.

The company said the exchanges “will not be one for one”, but will
be “value for value” based upon the exercise price of the original
option, the market price of its shares when the exchange program
launches and whether employees choose to receive new stock options or
restricted stock units.

Livermore-based FormFactor’s (NASDAQ: FORM) shares closed Wednesday at $18.67, down $1.01 from Tuesday’s close.

A letter discussing the plan was filed with Securities and Exchange
Commission, accompanied by details of the program it the company’s
annual proxy statement.