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NEW YORK Interpublic Group has accelerated the vesting of about $28 million worth of stock options to eliminate a future compensation expense and “alleviate certain administrative burdens,” according to an 8-K filed with the Securities and Exchange Commission. Some of the options otherwise would not have vested until 2010.
Still, the options to purchase some 8.3 million shares of common stock are currently “underwater” since the weighted average strike price is about $18 a share and IPG is now trading between $9 and $10 a share.
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