SMART & FINAL EMPLOYEES OFFERED NEW STOCK CHOICE

LOS ANGELES -- Smart & Final here said last week it is offering its employees the opportunity to exchange certain stock options that are no longer valuable for shares of restricted stock in an effort to incentivize employees to stay with the company and work harder.he purpose for which they were originally intended because their exercise prices are significantly above the current market price for

LOS ANGELES -- Smart & Final here said last week it is offering its employees the opportunity to exchange certain stock options that are no longer valuable for shares of restricted stock in an effort to incentivize employees to stay with the company and work harder.

he purpose for which they were originally intended because their exercise prices are significantly above the current market price for [the company's] common stock. These 'underwater' options have limited effectiveness

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