Business Services Industry
Citigroup Chairman Exercises Stock Options, Nets $4.26 Million.
Knight Ridder/Tribune Business News, June, 2003
The Hartford Courant, Conn. Knight Ridder/Tribune Business News
Jun. 20--Citigroup Chairman Sandy Weill realized $4.26 million of value this week by exercising 561,740 stock options as the company's stock price rose.
A federal securities filing Thursday showed the exercise price was $37.65 for each option. Weill sold 503,121 shares at $45.24 a share to pay for the option exercise and related taxes.
As a result of the transactions, chief executive Weill ended up owning 22,399,445 shares of Citigroup -- 58,619 more than before. His stake was worth about $981 million based on Thursday's closing price of $43.79 a share.
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