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Leveraged stock

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Leveraged stock
Stocks financed with credit, such as that purchased on a margin account.

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Under the Henley LEPP, management actively used $11 million of its own capital (along with $97 million in non-recourse notes from the company) to buy 10 percent of the company's stock (such a leveraged stock holding is equivalent to a holding of stock options).
Also, since we became a stand-alone public company in August 1999, we have reduced the net number of shares outstanding by approximately 20%, through a combination of share repurchases offset by the purchase of some of those shares by executives and directors under a Leveraged Stock Purchase Plan.
Shiely: The final feature of our program is leveraged stock options.
 
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