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Cendant CEO Realized $117.6 Million From Options In 2005
Dow Jones
WASHINGTON -(Dow Jones)- Cendant Corp. (CD) Chairman and Chief Executive Henry R. Silverman realized $117.6 million in value from the exercise of stock options last year.
The New York conglomerate said in a proxy filed with the Securities and Exchange Commission that Silverman acquired 9.61 million shares through the exercise of the options.
Previous filings with the SEC show that Silverman sold 4.6 million of the shares acquired.
For 2005, Silverman's compensation was valued at $22.3 million, including a previously reported $12.3 million bonus and a $3.3 million salary.
Silverman's 2005 pay package also included $5.7 million in life insurance premiums.
Silverman's compensation opportunities were reduced in 2004 after Cendant agreed to tie the executive's bonus to earnings targets and reduce the term of his employment agreement to settle a shareholder derivative lawsuit that had criticized Silverman's previous employment pact.
-By Nicolas Brulliard; Dow Jones Newswires; 202-862-1351; nicolas.brulliard@ dowjones.com
Here's the link: News
Cendant CEO Realized $117.6 Million From Options In 2005
Dow Jones
WASHINGTON -(Dow Jones)- Cendant Corp. (CD) Chairman and Chief Executive Henry R. Silverman realized $117.6 million in value from the exercise of stock options last year.
The New York conglomerate said in a proxy filed with the Securities and Exchange Commission that Silverman acquired 9.61 million shares through the exercise of the options.
Previous filings with the SEC show that Silverman sold 4.6 million of the shares acquired.
For 2005, Silverman's compensation was valued at $22.3 million, including a previously reported $12.3 million bonus and a $3.3 million salary.
Silverman's 2005 pay package also included $5.7 million in life insurance premiums.
Silverman's compensation opportunities were reduced in 2004 after Cendant agreed to tie the executive's bonus to earnings targets and reduce the term of his employment agreement to settle a shareholder derivative lawsuit that had criticized Silverman's previous employment pact.
-By Nicolas Brulliard; Dow Jones Newswires; 202-862-1351; nicolas.brulliard@ dowjones.com