modularf
Well-Known Member
Mullaly awarded option to buy 5 million shares of Ford stock
17 March 2009, 7:59 am
Filed under: Ford
When Ford Motor Company CEO Alan Mulally joined team Ford back in 2006, Blue Oval stocks were trading at $8.36 per share. But a very bad recession and an especially hard hit auto market have torpedoed Ford shares to their lowest levels in decades. With stocks hovering around the Mendoza line, Mulally has the opportunity to make some real coin, as he's been awarded the option to purchase five million shares of common Ford stock.
The shares, should Mulally decide to buy, would be offered at $1.96 each. The shares are already valued at $2.19 each, but Mulally wouldn't be able to cash out his stock options like a traditional share. He would be eligible to cash in one third of the stocks after one year, two thirds after two years, and all the stocks after three. If Mulally makes good on his plan to turn the company around, the stock value could skyrocket in the meantime. That would help Mulally make up some of his 30% pay cut in 2009.
[Source: Automotive News, sub. req'd | Photo by ROBYN BECK/AFP/Getty]Mullaly awarded option to buy 5 million shares of Ford stock originally appeared on Autoblog on Tue, 17 Mar 2009 07:59:00 EST. Please see our terms for use of feeds.
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Source: Autoblog
17 March 2009, 7:59 am
Filed under: Ford
The shares, should Mulally decide to buy, would be offered at $1.96 each. The shares are already valued at $2.19 each, but Mulally wouldn't be able to cash out his stock options like a traditional share. He would be eligible to cash in one third of the stocks after one year, two thirds after two years, and all the stocks after three. If Mulally makes good on his plan to turn the company around, the stock value could skyrocket in the meantime. That would help Mulally make up some of his 30% pay cut in 2009.
[Source: Automotive News, sub. req'd | Photo by ROBYN BECK/AFP/Getty]Mullaly awarded option to buy 5 million shares of Ford stock originally appeared on Autoblog on Tue, 17 Mar 2009 07:59:00 EST. Please see our terms for use of feeds.
Read | Permalink | Email this | Comments
Source: Autoblog