Cisco Offers New Stock Options to Employees

Cisco Systems Inc. said it set the price for new employee stock options at $18.57, Monday’s closing price, after a 77% plunge from the stock’s record high made many options worthless.

Chief Executive John Chambers said in March that he planned to issue additional options as an incentive for workers to remain with firm.

Shares of San Jose-based Cisco rose 17 cents to close at $18.74 on Nasdaq. They set a record of $82 on March 27, 2000.