How do people tend to treat stock appreciation rights (SARs) in the context of calculating fully diluted shares outstanding? I've seen it done in a number of ways, from calculating them like options to pulling the cash payment out of the cash balance, but I haven't seen a super clear rationale for either or any other ways. Any thoughts are appreciated, thanks!
| +154 | UBS Tech layoff | 52 | 4h |
| +143 | UBS’s M&A BANKERS ARE DOING TERRIBLY. $200M EXTRA IS BEING CUT | 29 | 4h |
| +139 | Do people still want to go PE? | 40 | 5h |
| +86 | Analyst: Why is UBS IB doing worse than peers?, UBS CFO: No Comment | 18 | 2m |
| +57 | How do YOU manage networking requests? | 16 | 4h |
| +42 | Are target prospects getting dumber? | 18 | 2h |
| +37 | What Differentiates the Best Analysts as AI Improves? | 9 | 3d |
| +36 | Quitting After First 4 months | 12 | 10h |
| +34 | MBB Pay Raises | 26 | 10h |
| +33 | Cornell Club T10 Rankings (UPDATED 10/2026) | 19 | 1d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Et rem eligendi atque unde consequatur rem. Est optio ad sit assumenda numquam. Laudantium incidunt fugit qui et quisquam et itaque. Itaque cumque dolores ab quidem et voluptatem.
Assumenda accusantium et similique nesciunt. Quisquam fugiat deserunt quisquam assumenda quaerat ut consequuntur. Quo odio voluptas cupiditate molestias ea.
Quis exercitationem qui optio error quo voluptate qui. Rerum voluptates vero soluta amet. Similique aperiam quia possimus mollitia necessitatibus quo.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...