Short Take: Cisco CEO cashed in $121 million in options

Cisco Systems chief executive John Chambers exercised nearly $121 million in stock options during the company's just-completed fiscal year, according to a proxy statement filed with the Securities and Exchange Commission. The executive, known to encourage the sale of the company's stock, was also awarded another 2.5 million shares at a strike price of $52.84 per share. If the company's stock appreciates 10 percent a year through April of 2008, Chambers latest option windfall could net the executive $179.4 million.