is considering ending making stock-option grants to employees, following in the footsteps of software giant
, which took the step Tuesday.
The news was first reported in the German newspaper
Frankfurter Allgemeine Zeitung
and confirmed by a Chrysler spokesman Wednesday afternoon .
Chief Financial Officer Manfred Gentz said the company is weighing other forms of compensation, such as bonuses based on an index tied to the company stock.
Microsoft Tuesday told its employees on Tuesday that it would end its stock-option program and start using restricted stock as its main form of equity compensation.
, which, along with DaimlerChrysler, collectively make up the so-called Big 3 auto manufacturers of America, continue to reward executives with stock options. But they began accounting for the cost of options as a personnel expense in their balance sheets earlier this year.
Shares of DaimlerChrysler edged down late on Wednesday afternoon by 0.58%, or 21 cents, to $36.31.