Thain to nab $2.6 million in Merrill stock

Merrill's new CEO will receive 46,304 shares of restricted stock that will vest over the next three years.
DEC 06, 2007
John Thain, received about $2.6 million in restricted stock to replace the shares that he forfeited by leaving NYSE Euronext Inc., according to a filing with the Securities and Exchange Commission. The new chief executive of Merrill Lynch & Co. Inc., will receive 46,304 shares of Merrill restricted stock that will vest over the next three years. He also received 42,815 stock options to replace the NYSE stock-based compensation that he had to forfeit. Thain's replacement shares are in addition to the 500,000 restricted shares, 1.8 million stock options and a $15 million signing bonus he received for joining Merrill.

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