Business Services Industry
Computer Associates Chairman Receives Stock Grant Valued at $8 Million.
Knight Ridder/Tribune Business News, April, 2004
By Mark Harrington, Newsday, Melville, N.Y. Knight Ridder/Tribune Business News
Apr. 6--Computer Associates chairman and chief executive Sanjay Kumar, criticized in the past along with others at the company over excessive pay packages, will receive a stock grant valued at nearly $8 million and more than a half-million options under a three-year package disclosed Friday.
Kumar, who hasn't received a bonus in two years, will receive an outright grant of 281,300 shares of restricted stock that he'll own in one-third portions over the three years starting next March. At the same time, Kumar was given options to buy 562,600 shares -- half with a strike price of $26.86, half at $31.50 -- which vest in three roughly equal parts between March 31, 2005...
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