SILVER SPRING, MD— Choice Hotels International, Inc. will expense the cost of all stock options the company grants, beginning with options to be granted in first-quarter 2003. The accounting change, approved by the companys board of directors, mirrors the companys view that expensing stock options is a preferable way to record employee compensation costs. “This change anticipates what we believe will ultimately become the accepted method of accounting for employee compensation,” said Charles Ledsinger Jr., president/CEO. “Stock options clearly are a form of employee compensation expense and should be reflected as such in our financial results.” If the board grants options in 2003 at a similar level to 2002, the company expects the impact would be approximately $0.03 per share for 2003.
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