Lehman Brothers is to pay its chief executive an extra $186 million over the next ten years in the form of stock awards. According to a recent filing with regulators, Lehman intends to give CEO Richard Fuld ten annual instalments of 246,395 shares between 2007 and 2016, provided he remains with the firm during that time. This is equivalent to $186 million, based on Lehman’s share price of $75.38 at Monday’s close. Fuld was originally being offered the 2.5 million shares in the event of Lehman being sold. He has headed Lehman for 12 years, since the firm ended ownership by American Express in 1994.
Lehman CEO Dons Golden Handcuffs Weighing $186 Million
Lehman Brothers is to pay its chief executive an extra $186 million over the next ten years in the form of stock awards. According to a recent filing with regulators, Lehman intends to give CEO Richard Fuld ten annual instalments
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