New Cisco CFO disdains stock options

Frank Calderoni, as expected, has risen to become Cisco's CFO, after the previous CFO's retirement. A document filed with the SEC reveals that among other compensation, Calderoni will receive 75,000 units of restricted stock, currently worth $1.8 million. Unlike stock options, which are worthless if the stock falls below their exercise price, restricted stock is earned even if the stock falls. Telling, I think, that Cisco's top finance executive doesn't want to make a big bet on the stock. (A side note: I found Calderoni's photo on a curiously named website: Good to know Cisco believes in full disclosure!.)