Citadel Issues Stock Options To Top Executives, Directors
November 23, 2010 at 2:35 PM (PT)
Pursuant to the agreement by which it revoked outright grants of stock bonuses to its top executives and directors and replaced them with options, CITADEL BROADCASTING has granted stock options vesting over a three year period to CEO FARID SULEMAN and other management figures at the company. The shares vest in three equal annual installments beginning on JUNE 3rd, 2011 and the options expire NOVEMBER 19th, 2020.
SULEMAN was granted 1,897,193 shares at a $28 exercise price and 632,398 shares at $32.
COO JUDY ELLIS was granted 99,798 shares at a $28 exercise price and 33,265 shares at $32.
CFO RANDY TAYLOR and General Counsel, VP, Secretary JACQUELINE ORR were each granted 79,838 shares at a $28 exercise price and 26,613 shares at $32.
SVP Finance and Administration PATRICIA STRATFORD was granted 56,137 shares at a $28 exercise price and 18,711 shares at $32.
Directors JONATHAN MANDEL, DOREEN WRIGHT, GREG MRVA, BILLY CAMPBELL, and JOHN SANDER were each granted 47,434 shares at a $28 exercise price and 15,811 shares at $32.