SIRI Intraday Thursday 7-2-09

[JohnnyIrishXM]

Good Morning everyone,Pre looks flat as today probably will too...
hope everyone realizes that with Mel re-signed up and sec filing,they slipped another filing in for 600 mil registered shares to the employee stock option plan,which also means that they have to keep 400 mill aside for Malone and
liberty,totaling 1 billion that was coincedentally the extra shares authorized at t5he annual meeting...This hamstrings the company from using sharers to erase debt in the future..

[imromo24]

I don't think we are going to open strong. The rest of the market is trading mostly red in pre-market. Jobless reports coming out today. Looks less than favorable. If siri dips, will be a good chance to increase position IMO. I will check back at the closing bell and see how we did. Nothing phases me much though (short of a catastrophe) since I am holding very very long on this with my 600K shares. I do feel strongly that we will see $1 by September and once we break that barrier, I can see a nice steady increase as the recession eases and Sirius delves further into being a profitable company.

i found myself hoping for a dip too, lol. Im sure at least we will see .45 for a while and if it pops it will come back, i think Im going to wait to buy more, im fine with the shares ive got now, now its just a waiting game.

[imromo24]

Johny that sucks....maybe because they plan to use cash to pay off debt they felt they could do that...man i can't wait until we pay of debt with cash WTF!! do it already.

[relmor2003]

Good Morning everyone,Pre looks flat as today probably will too...
hope everyone realizes that with Mel resigned and sec filing,they slipped another filing in for 600 mil registered shares to the employee stock option plan,which also means that they have to keep 400 mill aside for Malone and
liberty,totaling 1 billion that was coincedentally the extra shares authorized at t5he annual meeting...This hamstrings the company from using sharers to erase debt in the future..

Ya, isnt that interesting. But if the incentive is to raise the stock price, and they feel they wont need those shares to do it, then fine. Well have to see how it plays out. Puts them in our boat, greed, and wanting to see the company succeed.

[relmor2003]

Good Morning everyone,Pre looks flat as today probably will too...
hope everyone realizes that with Mel resigned and sec filing,they slipped another filing in for 600 mil registered shares to the employee stock option plan,which also means that they have to keep 400 mill aside for Malone and
liberty,totaling 1 billion that was coincedentally the extra shares authorized at t5he annual meeting...This hamstrings the company from using sharers to erase debt in the future..

Irish, when they filed for those shares, what reasons did they state they would use them for? Im going to go look, but if you know off the top of your head....
Be back...

[sxminvestor]

another buying opportunity at .45

[sxminvestor]

It looks like we may turn positive with the market getting wallopped - .50 very soon.

[relmor2003]

"Our long-term incentive program calls for stock options to be granted with exercise prices of not less than fair market value of our common stock on the date of grant and, historically, to vest proportionally over four years, if the employee is still employed by us, with exceptions to this vesting schedule made by the Compensation Committee. We define fair market value as the stock price on the close of business on the day of grant for existing employees and on the close of business the day before hiring for new employees. "-From the preliminary proxy statement from April.
Looks like they did what they said they would do so far.
Heres the line from the proxy statement. No reason for the increase given as far as i can see. Im still looking though.
"2. Approve an amendment to our certificate of incorporation to increase the number of authorized shares of our common stock from 8,000,000,000 to 9,000,000,000 shares. "

[sxminvestor]

"Our long-term incentive program calls for stock options to be granted with exercise prices of not less than fair market value of our common stock on the date of grant and, historically, to vest proportionally over four years, if the employee is still employed by us, with exceptions to this vesting schedule made by the Compensation Committee. We define fair market value as the stock price on the close of business on the day of grant for existing employees and on the close of business the day before hiring for new employees. "-From the preliminary proxy statement from April.
Looks like they did what they said they would do so far.
Heres the line from the proxy statement. No reason for the increase given as far as i can see. Im still looking though.
"2. Approve an amendment to our certificate of incorporation to increase the number of authorized shares of our common stock from 8,000,000,000 to 9,000,000,000 shares. "

This is old news

[bdp]

The rest of the market is trading red and Sirius is now in the green! Awesome!