Peloton: Executive Options Repriced

I want to highlight something.

Earlier this month, Peloton repriced its Chief Accounting Officer’s comically out-of-the money options. The Form 4 was just filed on Tuesday. The strike prices were adjusted from $82.59 for one set and $123.81 for another set all the way down to the then-current stock price of $7.47. In other words, the options went from worthless to potentially very valuable.

Here’s why that is kind of interesting: