Radio One Inc., a Lanham-based radio broadcasting company that targets African-American and urban listeners, is taking a look at its stock option granting practices dating back to the start of the company’s public-trading life ? May 5, 1999.
Management of Radio One reportedly concluded that the correct measurement dates for certain stock options between 1999 and 2005 differ from previously used dates.
An internal investigation into the errors made by Radio One is not complete, so no final conclusion has been reached as to the extent of the accounting errors or the full amount of non-cash stock-based compensation that the company may be liable for from 1999 through 2003, Radio One said in a statment.
It is yet to be determined if there will be any tax consequences or monetary liabilityassociated with the errors in accounting. At mid-day Friday, shares of Radio One Inc., were trading at $7.34, down 6 cents, or .81 percent.
