EFTA Document EFTA01393170

than a whole number of shares, of the underlying security is issued. The adjustment panel has discretion to make exceptions to the general rules described above. EXAMPLE: Before a 2 for 1 stock split, an inves- tor holds one ABC binary stock option with an exercise price of $50 that pays a cash settlement amount of $100 if the exercise settlement value of ABC at expiration is above the exercise price. After adjustment for the split. the investor will still hold one ABC binary stock option