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About Transferable Stock Options

Posted by Allan Brown, Director, Recognition & HR Systems We work hard to attract and retain the world's best talent in a number of ways, and a part of that is offering competitive compensation packages. We offer standard things such as competitive salary, cash incentives, restricted stock units and stock options. But we also aim to be innovative. So today we're announcing a new compensation program called Transferable Stock Options (TSOs). As with most employee stock option programs, Google's program to date has allowed employees to do two things with their options. Upon vesting they can (1) hold them or (2) exercise them and then hold or sell the stock. With the new TSO program, employees will have an additional alternative: they can transfer (sell) their options to a financial institution through a competitive bidding process. The ability to sell options is not a novel concept -- today people can buy and sell options to purchase GOOG stock and the stock of many other companies on the public markets. What is novel is that we are extending this ability to trade options to employee stock options. Typically, employees get value from stock options by exercising them after vesting, and then selling the stock they get from the exercise at a higher price, provided the company's stock price has appreciated since the time of grant. With the TSO program, employees will also be able to sell vested options to the highest-bidding financial institution, which may be willing to pay a premium above the difference between the exercise price and the market price for Google stock (even when the exercise price is higher than the market price). The premium paid is for the time value of the options. More on that and how institutions would do this, and why, is <a href="http://services.google.com/blog_resources/TSO_Mkt_Mech_doc.pdf">here</a>. Employees will still have the choice of simply exercising and then holding or selling the stock too. But if they choose to sell the options, they can use a simple online tool that will show them the best price a participating financial institution is willing to pay for their vested options in real time. With that tool, they'll be able to sell their vested options to the highest bidder. In addition to increasing the value of every option employees receive, the TSO program makes the value of their options much more tangible. In the past, employees typically valued Google stock options based simply on the difference between their option exercise price and the current market stock price (called the intrinsic value). Since Google grants options with exercise prices that are at, or above, the market price of Google stock, many employees do not value options on the day they are granted. By showing employees what financial institutions are willing to pay for their options, it is made clear that the value of their options is greater than just the intrinsic value. We aren't offering this program for everyone or for all stock options. <a href="http://www.google.com/corporate/execs.html">Google Executive Management Group</a> (EMG) may not participate, and only employee stock options granted after our IPO are eligible. We should also note that we've discussed this program with the SEC and we'll ensure it complies with applicable securities laws. We've chosen Morgan Stanley to manage the auction of these TSOs between our employees and the multiple bidders, and we are working with multiple financial institutions to participate as bidders in the auction. We expect to have this program up and running in the second quarter of 2007. If you're wondering how this would work for employees, here is <a href="http://services.google.com/blog_resources/TSO_Scenario.pdf">an example scenario</a>. There's more about the <a href="http://services.google.com/blog_resources/TSO_Accounting.pdf">related accounting here</a>. And for answers to other questions, we've put together <a href="http://services.google.com/blog_resources/TSO_FAQ.pdf">an extensive Q and A</a>. (You'll notice some legal language below, and at the bottom of all the related information we link to. We're including that because we will file a registration statement with the SEC as a requirement of offering this program, and we want to help you find all of the information related to this registration statement.) Google may file a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents Google has filed with the SEC for more complete information about Google and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, Google will arrange to send you the prospectus after filing if you request it by calling toll-free 1-866-468-4664 or sending an e-mail to <a href="mailto://investors@google.com/">investors@google.com</a>.

About Transferable Stock Options

Posted by Allan Brown, Director, Recognition & HR Systems We work hard to attract and retain the world's best talent in a number of ...

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Opening up the Google Web Toolkit

Posted by Dan Peterson, Product Manager <a href="http://code.google.com/webtoolkit/"> Google Web Toolkit</a> (GWT) is all about making the web a better place by making it easier to create web apps like Gmail or Google Maps. So today, we're excited to <a href="http://googlewebtoolkit.blogspot.com/2006/12/gwt-13-release-candidate-is-100-open_12.html">tell you</a> that we're releasing all the <a href="http://code.google.com/p/google-web-toolkit">source code for GWT</a> under an <a href="http://code.google.com/webtoolkit/terms.html">open source license</a>. We've been working hard to build great tools for AJAX development, and now we're happy to begin working with the open source community towards the same goal. The folks who are passionate about AJAX can contribute to the project and make this toolkit even better. If you're curious about how to add some AJAX goodness to your site, see if the <a href="http://code.google.com/webtoolkit/">Google Web Toolkit</a> is right for you.

Opening up the Google Web Toolkit

Posted by Dan Peterson, Product Manager Google Web Toolkit (GWT) is all about making the web a better place by making it easier to create w...

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There's more to Google Finance

Posted by Vivi Costache, Software Engineer, Google Finance team The Google Finance team has been working hard since we <a href="http://googleblog.blogspot.com/2006/03/spring-is-season-for-love-and-data.html">launched 6 months ago</a>. Here's a <a href="http://www.youtube.com/watch?v=sv1Lw0Pk4jE">short animation </a>describing what's been keeping us busy. Just in case your sound is off (and we don't have subtitles :-) ), here's what's new: <ul><li>A new homepage design which lets you see currency information, sector performance for the U.S. market, and a listing of top market movers along with the relevant and important news of the day.</li><li>A Top Movers section highlighting most active companies by price, market cap, volume, and popularity as determined by our own <a href="http://www.google.com/trends">Google Trends</a>.</li><li>More comprehensive charts, which now display up to 40 years of data for U.S. stocks.</li><li>Richer portfolio capabilities that let you import other online portfolios to Google Finance, use different views and add transactions to make it easier to track your investments.</li><li>A quick and easy way to <a href="http://www.google.com/ig/add?moduleurl=finance_portfolios.xml">add and view your Google Finance portfolios</a> on the <a href="http://www.google.com/ig">Google Personalized Homepage</a>.</li></ul>So check out the new features on <a href="http://finance.google.com">Google Finance</a>, and <a href="http://www.google.com/support/finance/bin/request.py">let us know</a> what you think.

There's more to Google Finance

Posted by Vivi Costache, Software Engineer, Google Finance team The Google Finance team has been working hard since we launched 6 months ago...

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Opening my eyes to a whole new world

Posted by Chikai Ohazama, Google Earth team Every once in a while you come across a piece of technology that instantly grabs you and you can't stop saying "Oh my god!" When I bought my 12" Mac Powerbook, for instance, just opening the box was an experience. Each item was laid out perfectly -- everything I pulled out was well designed from the power connector with the glowing ring to the pulsating light next to the latch that made it look like it was breathing. <div> I recently went to the <a href="http://www.techawards.org">Tech Museum Awards</a>, and one of the laureates, <a href="http://www.techawards.org/laureates/stories/index.php?id=131">Mohammed Bah Abba</a>, had created a refrigerator that requires no electricity -- basically uses two clay pots with wet sand in between them. This device helped keep food fresh longer in poor rural areas in Africa. And the group <a href="http://www.fogquest.org">FogQuest</a> uses these big meshes that collected potable water from fog (yes, the white stuff that hangs around in the air) for people in Central and South America. Simple, elegant technologies that have a huge impact to help with basic human needs. Due in large part to the community of people who use <a href="http://earth.google.com">Google Earth</a>, it has also become one of those technologies. Having worked on it for almost 7 years, you would think the magic would have worn off for me by now, but amazingly enough, it hasn't. Every once in a while we add a new feature -- and it's like I was looking at it for the first time. Hours pass by without me noticing. The new Geographic Web layer we released today is one of those features. We've taken the rich data of <a href="http://www.wikipedia.org">Wikipedia</a>, <a href="http://www.panoramio.com/">Panoramio</a>, and the <a href="http://bbs.keyhole.com/">Google Earth Community</a> and made a browsable layer in Google Earth. Now you can fly anywhere in the world and see what people have written about it, photographed, or posted. I went hopping around from the southern tip of South America to the mosques in the Middle East to the Maldives Islands, immersed in a wealth of information, and I really felt like I was visiting each place through eyes of people who had been there. It was really engaging to compare, say, the Grand Canyon through the photos in Panoramio to the view from Google Earth, where I could follow the Colorado River through each. To experience this for yourself, all you need to do is start Google Earth and explore the world. As of today you will see new icons -— the Wikipedia globe, the Panoramio star, or the information “i” of the Google Earth Community —- so just click on any of them to explore information about a place. You can also easily turn it off in the Layers panel on the lower left. This is by far one of my most favorite layers we've ever done, and I really hope you enjoy it. To use our founding group's tagline, Happy travels! <a href="http://photos1.blogger.com/x/blogger/7609/900/1600/133697/Earth_Wikip_combo.jpg" onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}"><img alt="" border="0" src="http://photos1.blogger.com/x/blogger/7609/900/320/925614/Earth_Wikip_combo.jpg" style="margin: 0px auto 10px; display: block; text-align: center; cursor: pointer;" /></a></div>

Opening my eyes to a whole new world

Posted by Chikai Ohazama, Google Earth team Every once in a while you come across a piece of technology that instantly grabs you and you ca...

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Share your photos in more languages

Posted by Steve McKay, Software Engineer Have you been waiting to share your photos on <a href="http://picasaweb.google.com">Picasa Web Albums</a> in a language other than English? We don't want you waiting a minute longer, so today our team in Santa Monica is very happy to give you the ability to create web albums in 18 additional languages: English (UK), English (US), Chinese (Simplified), Chinese (Traditional), Danish, Dutch, Finnish, French, German, Italian, Japanese, Korean, Norwegian, Polish, Portuguese, Russian, Spanish, Taiwanese, and Turkish. If you've already got a Picasa Web Albums account in English, click the "Settings" link to change your language. For the fastest and easiest uploading to Picasa Web Albums, get <a href="http://picasa.google.com">Picasa</a>. If you don't use Windows or you have another photo management tool, use your browser to upload your pix. Either way, your photos will be easy to arrange in a clean, uncluttered web gallery where you can add captions and share them. Take a look at our <a href="http://picasaweb.google.com/tester/">test gallery</a> to see what it looks like.

Share your photos in more languages

Posted by Steve McKay, Software Engineer Have you been waiting to share your photos on Picasa Web Albums in a language other than English? ...

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The Google 2007 Anita Borg Memorial Scholarship

Posted by Meredith Carroll, Staffing Programs Coordinator <a href="http://www.anitaborg.org/about/history.php">Dr. Anita Borg</a> (1949-2003) devoted her life to revolutionizing the way we think about technology and dismantling the barriers that keep women and minorities from entering the computing and technology fields. As part of our ongoing commitment to Anita’s vision, we're pleased to announce the <a href="http://www.google.com/jobs/scholarships">2007 Google Anita Borg Scholarship</a>. A group of women undergraduate and graduate students studying in the U.S. will each receive a $10,000 scholarship for the 2007-2008 academic year. The selected scholars will also be invited to attend an all-expenses paid trip to our Mountain View headquarters. <a href="http://www.google.com/anitaborg/">Tell your friends or apply yourself </a>– the deadline for U.S. applications is Monday, January 15, 2007. And this year, we're also pleased to expand the scholarship program to women students in Europe. These recipients will each receive a €5,000 (or equivalent) scholarship for the 2007-2008 academic year, and are invited to a retreat at the Google office in Zurich, Switzerland. Applications for the <a href="http://www.google.com/anitaborg-europe/">Google Europe Anita Borg Memorial Scholarship</a> are due Friday, January 12, 2007. We hope this program will encourage students to excel in their studies, inspire them to become role models and leaders, and help remove the financial barriers for women wishing to pursue an engineering degree. Here's a bit of testimony from two Anita Borg Scholars who have since joined us:<blockquote>"I remember mailing in my application by FedEx overnight because I had decided to apply at the last minute and I really didn't think I had much of a chance. I'm glad I applied because through the scholarship, I met some amazing women who became good friends of mine. I got a chance to go to the Grace Hopper conference for Women in Computer Science and probably the most important thing I learned from the experience is nothing ventured, nothing gained." <div style="text-align: right;">-- Rose Yao, Associate Product Manager, and 2004 Anita Borg Scholar</div> "One of the greatest things about the scholarship is the opportunity to meet other women and form a network -- I have kept in touch a lot of the other women that received the scholarship the same year and over the last 2 years this has been invaluable to me. These are women I can rely on and even though we don't see each other frequently, the bond we formed is strong." <div style="text-align: right;">-- Gaby Aguilera, Software Engineer-Testing, and 2004 Anita Borg Scholar</div></blockquote>

The Google 2007 Anita Borg Memorial Scholarship

Posted by Meredith Carroll, Staffing Programs Coordinator Dr. Anita Borg (1949-2003) devoted her life to revolutionizing the way we think a...

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Thoughts on health care, continued

Posted by Adam Bosworth, VP As <a href="http://googleblog.blogspot.com/2006/11/health-care-information-matters.html">I indicated in my post last week</a>, I've been interested in the issue of health care and health information for a while. I just spoke at a conference about some of the challenges in the health care system that we at Google want to tackle. The conference, called <a href="http://www.phrconference.org/">Connecting Americans to Their Health Care</a>, is a gathering focused on how consumers are transforming health care through the use of personal health technologies. <a href="http://services.google.com/blog_resources/bosworth_healthcare.pdf">This speech</a> will give you some insight into the problems that we believe need our attention. There are, of course, other challenges in health care that we plan to work on, and we'll share more information with you about the solutions we're trying to develop as this work advances.

Thoughts on health care, continued

Posted by Adam Bosworth, VP As I indicated in my post last week , I've been interested in the issue of health care and health informatio...

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