How to I delete or redefine incentive stock options?

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Joseph Stronks
Joseph Stronks Member ✭✭
edited May 7 in Investing (Windows)

My company was recently acquired by another and all Incentive Stock Options were accelerated. For each stock share, there is a 0.79 conversion ratio, such that I would receive 0.79 shares for each 1.00 share of the new company. Conversely, the strike price must increase by an equivalent ratio. (For example, 1000 shares is now 790 shares and a $10.00 strike price is now $12.6582; in each case, the net value is $10,000). I must adjust my stock options to decrease the share count for each and correspondingly increase the strike price for each.

I cannot figure out how to edit those values. Given there are only 5, I thought it was easier if I simply deleted each transaction, and then each security, as I recorded each grant as its own security. After researching for hours online, I cannot find a way to successfully delete each transaction (grant, vest, expire) to then delete each grant as a security. (This happened in a prior company years ago and I was able to find a transaction register for each grant by which I was able to delete each transaction and then close the security/grant.)

Because I can neither reprice each grant nor delete the transactions and securities, I am stuck with an inflated value that mucks with my net worth calculations, etc. I don't want to dummy up more transactions because that will mess up tax reporting. Besides, I cannot force an acceleration of the remaining unvested shares anyway.

I need to find a way to remove these transactions (and securities) before I can ensure the new values, with all options now effectively 100% vested, though not exercised. Any suggestions?

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