Wednesday, June 5, 2013
THE CINCINNATI FAIR TAX ACT: STOCK OPTIONS MUST BE TAXED!
Every $1 rise in P&G stock worth $3.5M to Lafley
Jun. 5, 2013 7:36 PM
Procter & Gamble chief executive A.G. Lafley has a big stake in boosting shareholder value: At least $110 million of his net worth is tied in the company stock.
A.G. Lafley (center) talks with Steven S. Reinemund, chairman and CEO of PepsiCo, on the floor of the New York Stock Exchange before being given the CEO of the Year Award by Chief Executive Magazine in July of 2006. / AP file photo
Lafley, who was previously CEO from 2000 to 2009, returned to the corner office May 23 after former chief executive Bob McDonald abruptly resigned after four years at the helm.
P&G announced last month Lafley would be given a $2 million base salary and a $1.6 million bonus on June 30 for his 38 days of service at the end of the company’s current fiscal year.
Lafley’s stake was revealed in a regulatory filing this week. Once again an executive with the company, he was required to disclose his holdings.
Between directly owned shares, stock held by his wife or various trusts and numerous options, Lafley gets $3.5 million richer for every dollar the stock rises.
Lafley owns 609,379 shares directly now worth $46.9 million; another 148,095 shares through trusts or with his wife worth $11.4 million; and he has options to buy another 2.7 million shares at a discount worth $51.7 million. He also owns 6,092 shares of preferred stock with an undisclosed value.
(Story courtesy of cincinnati.com)
Click here for more information on "The Cincinnati Fair Tax Act" spearheaded by Bro. Nathaniel Livingston Jr. & supported by The Black Fist Organization