has been an outspoken opponent of the move to that hurt corporate profits. Faced with the reality of such rules, though, Sun has begun awarding restricted stock that gradually becomes available for the owner to sell.
The server and software company disclosed theand stock grants in regulatory filings Monday.
It's not the first time Sun has awarded restricted stock, but previously Sun has done so only "in limited circumstances," spokeswoman Stephanie Von Allmen said. With the new accounting rules, restricted stock no longer is more expensive than options.
McNealy got 1,354,000 shares of restricted stock, whilegot 432,000 shares, Sun said. The two also got options to buy 900,000 shares each at a price of $3.85 per share, with the vesting over a five-year period.
Other companies are adjusting to the new accounting regulations as well. Sun, Advanced Micro Devices and others haveto avoid having to record millions in options expenses. in favor of restricted stock.
The accounting change isn't easy. IBM's approach has