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Power Producer Reliant Energy Avoids Vote on Stock Options.
Knight Ridder/Tribune Business News, June, 2004
By Laura Goldberg, Houston Chronicle Knight Ridder/Tribune Business News
Jun. 3--Companies shouldn't grant large numbers of stock options to high-level executives, former Reliant Energy Chief Executive and Chairman Don Jordan said Wednesday at Reliant's annual meeting.
Jordan submitted a proposal calling for Reliant to limit option grants to 50,000 a year for senior executives. But it wasn't put to a shareholder vote because Securities and Exchange Commission officials said Reliant appeared to have a valid reason for keeping it off the agenda.
The use of large option packages for top executives is a bad idea for shareholders of all companies, not Reliant in particular, Jordan said Wednesday.
Options are the right to buy...
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