Metris Companies Inc., St. Louis Park, MN, has created a stock option price for all of its employees. Under the Ownership Bonus Program, once the options vest, eligible employees can purchase 100 shares of Metris stock at $50.31 per share, the stock’s market price as of December 31, 1998. The stock options vest on January 4, 2002 or when Metris stock closes at or above $100 per share, whichever comes first.
With the Ownership Bonus Program, all eligible employees nationwide have an equity stake in the company. Other stock ownership opportunities available to employees include the purchase of stock through the Company’s 401(k) plan.
Metris Companies Inc. is an information-based direct marketer of consumer credit products and fee-based services primarily 6 to moderate income consumers.
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