McDonald’s grants CEO stock valued at $1.75 million
WASHINGTON – McDonald’s Corp. said Monday it granted restricted stock valued at $1.75 million and 151,910 stock options to Vice Chairman and Chief Executive James A. Skinner.McDonald’s granted the options and 50,666 restricted stock units to Skinner last Thursday, according to a filing with the Securities and Exchange Commission.Based on a closing share price of $34.54 on the date of the grant, Skinner’s restricted stock award is worth about $1.75 million.For 2004, Skinner received 40,000 restricted stock units valued at $1.25 million and 375,000 stock options, according to the company’s most recent annual proxy. Skinner was elected chief executive in November of that year, after James R. Cantalupo died in April and Charles H. Bell later decided to step down for health reasons.McDonald’s said in the proxy that the vesting of the restricted stock Skinner received for 2004 was subject to restrictions based on the company’s achievement of earnings-per-share growth targets during the vesting period.In Monday’s filing, the Oak Brook, Ill.-based fast-food retailer said Skinner’s 50,666 restricted units have a March 23, 2009 vesting date and that upon vesting they will result in a payout of either an equal number of common shares or the corresponding value in cash.Skinner’s stock options carry a $34.54 exercise price and will vest over a three-year period starting March 23, 2007, the company said.
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