Scripps' Rich Boehne To Use Stock Options For Charity Purposes
November 30, 2015 at 4:10 AM (PT)
E.W. SCRIPPS CEO RICH BOEHNE plans to sell off $9 million worth of stock in his company for which he has options and donate the net proceeds to charity, reports the CINCINNATI BUSINESS COURIER. After costs and taxes, the plan should generate about $3 million for the charities, the paper reports.
BOEHNE's options, granted in 2008, expire on FEBRUARY 20, 2016; he plans to acquire up to 466,500 shares at $9.09 per share and sell the shares at present market price ($21.57/share just before the market open on MONDAY (11/30) between DECEMBER 21st and FEBRUARY 12th. SCRIPPS donated $1 million to the SCRIPPS HOWARD FOUNDATION in BOEHNE's name last year.