Free

So how many Googlers swapped their options?

This morning at 6 a.m. PST was the deadline for Google (GOOG) employees to swap their options. As we’ve footnoted here, Googlers got several reminders that the deadline was approaching and lots of helpful information — slideshows, videos, and several email reminders, including one from CEO Eric Schmidt reminding employees not to wait until the last minute to take advantage of the option exchange.

The new options were priced at Friday’s close of $308 and this morning the stock is trading just under $300, so already those new options are underwater. Late Friday, Google filed this amendment to its offering documents — its’ seventh since the program was announced back in late January. Employees who opted to exchange their options received this confirmation according to the late Friday filing.

So how many employees wound up exchanging their options? It’s probably not a material disclosure given Google’s size, but it will be interesting to see whether the company does choose to disclose this. In earlier filings, the company estimated that roughly 85% of all employees held underwater options.

UPDATE: That didn’t take long. With Google closing at $290.89 today, those newly repriced options are already $18 underwater.

Image source: Paul Sakuma/Associated Press