IndyMac Bancorp Inc.’s Chief Executive Michael Perry asked the company’s board to cancel his option to purchase 1 million shares. IndyMac said the move came “solely upon his own initiative.” Perry also said that he made the decision so the Pasadena-based bank can make more options available for future grants to other employees. “I will not accept any compensation for the cancellation of my options nor any additional grants of new options other than those that are specified to be granted to me in the future as per my employment agreement,” Perry said in the filing. Shares in IndyMac were up 3 cents to $3.88 in early trading Tuesday.

Shares of American Apparel Inc. tumbled nearly 10 percent Monday and continued the descent early Tuesday following an article in The Wall Street Journal which focused on the clothing retailer’s struggles. Over the weekend, The Journal ran a profile of American Apparel’s founder, Dov Charney, saying that the Los Angeles-based clothing retailer was suffering from “material weaknesses” in debt levels, accounting practices and continued to be dogged by several sexual harassment suits. Shares closed down 9.9 percent to $7.48 Monday and continued to slide another 5.8 percent Tuesday to $7.05 in early trading.