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Why the hell does Michael Dell get share options?

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What on earth does multi-billionaire Michael Dell need share options for? And why should Dell's compensation board award him such an incentive? Well?

Earlier this month, Dell bought almost 12 million shares, trousering almost $200 million in the process, in his direct PC company.

The Dell chairman and CEO exercised stock options to buy the 11.96 million shares on January 2, according to a Securities and Exchange Commission filing. He paid between 98 cents and $4.63 for the shares, with the average purchase price around $2.90 per share. He now owns more than 309 million shares. Greed is good, huh?

Today the share price of the Round Rock, Texas, vendor fell 3/16 to $19, valuing the freshly bought stock at more than $200 million.

Dell's share price has suffered since it warned that sluggish PC demand would hit revenues. ®

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