Estimated reading time: 0 minutes, 38 seconds

BENNETT TO LEAVE INTUIT BOARD

Stephen Bennett, who served as Intuit's CEO from January 2000 to January 2008, has announced he will not seek re-election to the company's board of directors at the next stockholder's annual meeting.

That means the speculation in the last newsletter was on target that Bennett was cleaning out his stock with the summer sale of 304,731 shares that he had acquired through an option exercise. As a reward for his services, the company accelerated vesting 67,500 shares that were granted in January, and which become fully vested and exercisable on the day before Bennett's last day on the board. A prepared statement said these options were worth about $300,000 at the September 30 closing share price. A quarter of the options would have vested on January 31 if the board hadn't taken the action.
Read 2816 times
Rate this item
(0 votes)

Visit other PMG Sites:

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.