Mainecat Posted August 1, 2020 Share Posted August 1, 2020 Kodak C.E.O. Got Stock Options Day Before News of Loan Sent Stock Soaring Source: New York Times Kodak C.E.O. Got Stock Options Day Before News of Loan Sent Stock Soaring The stock options suddenly were worth about $50 million -- the latest instance of extraordinary good timing by corporate executives. By Jesse Drucker and Ellen Gabler July 31, 2020, 5:55 p.m. ET At the beginning of this week, the Eastman Kodak Company handed its chief executive 1.75 million stock options. It was the type of compensation decision that generally wouldn't attract much notice, except for one thing: The day after the stock options were granted, the White House announced that the company would receive a $765 million federal loan to produce ingredients to make pharmaceuticals in the United States. The news of the deal caused Kodak's shares to soar more than 1,000 percent. Within 48 hours of the options grants, their value had ballooned, at least on paper, to about $50 million. The government loan is part of a broader federal effort to increase the country's ability to respond to the coronavirus and future pandemics. The options grant to Kodak's executive chairman and chief executive officer, Jim Continenza, is the latest example of executives and board members at companies receiving such federal support to benefit from extraordinarily good timing. A number of those companies are involved in the hunt for vaccines and treatments for Covid-19. Insiders at Vaxart, for example, received stock options shortly before the California biotech company announced in June that its potential coronavirus vaccine was being tested in a program organized by a federal agency, causing its shares to instantly double. Around the time that Kodak began talking with the federal government this spring, Kodak insiders began receiving stock options. The pattern was first reported by Non-GAAP Thoughts, a digital newsletter. On May 20, Kodak handed out 240,000 stock options to board members -- an addition to its usual equity distribution in January. The May stock options awarded to directors are now worth about $4 million. Those options are eligible to be exercised gradually over the course of this year. Jesse Drucker is an investigative reporter for the Business desk. He previously worked for The Wall Street Journal and Bloomberg News where he won a pair of awards in 2011 for investigative and explanatory reporting from the Society of American Business Editors and Writers for a series on how U.S. multinationals shift profits into tax havens. @JesseDrucker Ellen Gabler is an investigative reporter for The New York Times. @egabler https://twitter.com/JesseDrucker https://twitter.com/egabler Read more: https://www.nytimes.com/2020/07/31/business/kodak-ceo-stock-options.html Quote Link to comment Share on other sites More sharing options...
Snake Posted August 1, 2020 Share Posted August 1, 2020 Do you know why stock options are so disgusting? People wanted to limit management pay. How well did that work out? Quote Link to comment Share on other sites More sharing options...
Zambroski Posted August 1, 2020 Share Posted August 1, 2020 14 minutes ago, Snake said: Do you know why stock options are so disgusting? People wanted to limit management pay. How well did that work out? Not at all (as you know). It’s now just a sweet perk that is used as part of the top officer golden parachute after they drive their own companies into the dirt. However, we’ve profited very well with stock options over the years so, I can’t whine too much about them. Quote Link to comment Share on other sites More sharing options...
jtssrx Posted August 1, 2020 Share Posted August 1, 2020 Shady as fuck!! Quote Link to comment Share on other sites More sharing options...
f7ben Posted August 1, 2020 Share Posted August 1, 2020 2 hours ago, jtssrx said: Shady as fuck!! Where in the fuck is the SEC..... Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted August 1, 2020 Share Posted August 1, 2020 3 hours ago, Mainecat said: Kodak C.E.O. Got Stock Options Day Before News of Loan Sent Stock Soaring Source: New York Times Kodak C.E.O. Got Stock Options Day Before News of Loan Sent Stock Soaring The stock options suddenly were worth about $50 million -- the latest instance of extraordinary good timing by corporate executives. By Jesse Drucker and Ellen Gabler July 31, 2020, 5:55 p.m. ET At the beginning of this week, the Eastman Kodak Company handed its chief executive 1.75 million stock options. It was the type of compensation decision that generally wouldn't attract much notice, except for one thing: The day after the stock options were granted, the White House announced that the company would receive a $765 million federal loan to produce ingredients to make pharmaceuticals in the United States. The news of the deal caused Kodak's shares to soar more than 1,000 percent. Within 48 hours of the options grants, their value had ballooned, at least on paper, to about $50 million. The government loan is part of a broader federal effort to increase the country's ability to respond to the coronavirus and future pandemics. The options grant to Kodak's executive chairman and chief executive officer, Jim Continenza, is the latest example of executives and board members at companies receiving such federal support to benefit from extraordinarily good timing. A number of those companies are involved in the hunt for vaccines and treatments for Covid-19. Insiders at Vaxart, for example, received stock options shortly before the California biotech company announced in June that its potential coronavirus vaccine was being tested in a program organized by a federal agency, causing its shares to instantly double. Around the time that Kodak began talking with the federal government this spring, Kodak insiders began receiving stock options. The pattern was first reported by Non-GAAP Thoughts, a digital newsletter. On May 20, Kodak handed out 240,000 stock options to board members -- an addition to its usual equity distribution in January. The May stock options awarded to directors are now worth about $4 million. Those options are eligible to be exercised gradually over the course of this year. Jesse Drucker is an investigative reporter for the Business desk. He previously worked for The Wall Street Journal and Bloomberg News where he won a pair of awards in 2011 for investigative and explanatory reporting from the Society of American Business Editors and Writers for a series on how U.S. multinationals shift profits into tax havens. @JesseDrucker Ellen Gabler is an investigative reporter for The New York Times. @egabler https://twitter.com/JesseDrucker https://twitter.com/egabler Read more: https://www.nytimes.com/2020/07/31/business/kodak-ceo-stock-options.html You paid yourself with dividends to pay lower taxes right? Hypocrite much. Quote Link to comment Share on other sites More sharing options...
f7ben Posted August 1, 2020 Share Posted August 1, 2020 28 minutes ago, ArcticCrusher said: You paid yourself with dividends to pay lower taxes right? Hypocrite much. Yah....that’s the same you fucking cunt Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted August 1, 2020 Share Posted August 1, 2020 1 hour ago, f7ben said: Yah....that’s the same you fucking cunt No it isn't, the CEO who got the company turned around is worth much much more. Quote Link to comment Share on other sites More sharing options...
f7ben Posted August 1, 2020 Share Posted August 1, 2020 6 minutes ago, ArcticCrusher said: No it isn't, the CEO who got the company turned around is worth much much more. Derrrrrr Quote Link to comment Share on other sites More sharing options...
jtssrx Posted August 1, 2020 Share Posted August 1, 2020 3 hours ago, f7ben said: Where in the fuck is the SEC..... Who knows probably getting paid off. Only regular people go to jail!! That’s why I’ve been so hell bent on seeing these people go down for trying to take Trump down. It has zero to do with me liking trump and everything to do with me bring tired of seeing these assholes commit crimes and getting away with it Quote Link to comment Share on other sites More sharing options...
f7ben Posted August 1, 2020 Share Posted August 1, 2020 1 hour ago, jtssrx said: Who knows probably getting paid off. Only regular people go to jail!! That’s why I’ve been so hell bent on seeing these people go down for trying to take Trump down. It has zero to do with me liking trump and everything to do with me bring tired of seeing these assholes commit crimes and getting away with it He’s a part of the orchestra brother....I been tryin to tell you Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted August 1, 2020 Share Posted August 1, 2020 how much stock do you think Nancy's husband of chucks pool boy got the week before anouncment ? Quote Link to comment Share on other sites More sharing options...
jtssrx Posted August 1, 2020 Share Posted August 1, 2020 1 hour ago, f7ben said: He’s a part of the orchestra brother....I been tryin to tell you I’m sure he is I’m so fucking over these assholes getting away with shit Quote Link to comment Share on other sites More sharing options...
f7ben Posted August 1, 2020 Share Posted August 1, 2020 37 minutes ago, jtssrx said: I’m sure he is I’m so fucking over these assholes getting away with shit Welcome to apathy Quote Link to comment Share on other sites More sharing options...
Zambroski Posted August 1, 2020 Share Posted August 1, 2020 1 minute ago, f7ben said: Welcome to apathy Get a room. Quote Link to comment Share on other sites More sharing options...
f7ben Posted August 1, 2020 Share Posted August 1, 2020 8 minutes ago, Zambroski said: Get a room. Let’s get one together....you can pull my hair!!!! 1 1 Quote Link to comment Share on other sites More sharing options...
Zambroski Posted August 1, 2020 Share Posted August 1, 2020 Just now, f7ben said: Let’s get one together....you can pull my hair!!!! Actually I may be up in Virginia mid week. Wanna get together and dance? How do you look in a corset? Quote Link to comment Share on other sites More sharing options...
f7ben Posted August 1, 2020 Share Posted August 1, 2020 16 minutes ago, Zambroski said: Actually I may be up in Virginia mid week. Wanna get together and dance? How do you look in a corset? I don’t need a corset motherfucker....all my bits are where were when I was 20!!!! Quote Link to comment Share on other sites More sharing options...
snoughnut Posted August 1, 2020 Share Posted August 1, 2020 4 hours ago, jtssrx said: Who knows probably getting paid off. Only regular people go to jail!! That’s why I’ve been so hell bent on seeing these people go down for trying to take Trump down. It has zero to do with me liking trump and everything to do with me bring tired of seeing these assholes commit crimes and getting away with it Exactly, the fucking SEC was absent during the whole mortgage crisis, I doubt they give 2 shits about this little blip on the radar. 1 Quote Link to comment Share on other sites More sharing options...
Zambroski Posted August 2, 2020 Share Posted August 2, 2020 2 hours ago, f7ben said: I don’t need a corset motherfucker....all my bits are where were when I was 20!!!! Mine aren’t. My shit has “slidden”. LOL. Still, a good slap fight and a few beers isn’t bad for anybody. Unless you’re a girl. Quote Link to comment Share on other sites More sharing options...
f7ben Posted August 2, 2020 Share Posted August 2, 2020 1 minute ago, Zambroski said: Mine aren’t. My shit has “slidden”. LOL. Still, a good slap fight and a few beers isn’t bad for anybody. Unless you’re a girl. I wore some big bruises from the toughest kid we know. We drank tequila the other night until I told him to bring it. That shit is for kids....I couldn’t move the next day. He said I knocked the wind out of him with a shot to the ribs and he had to stop though so I guess I won lol...I don’t remember a bit of it Quote Link to comment Share on other sites More sharing options...
spin_dry Posted August 2, 2020 Share Posted August 2, 2020 12 hours ago, snoughnut said: Exactly, the fucking SEC was absent during the whole mortgage crisis, I doubt they give 2 shits about this little blip on the radar. The SEC was absent because Dubya sent 300 of the top regulators chasing bin laden. That effectively gutted the SEC. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted August 2, 2020 Platinum Contributing Member Share Posted August 2, 2020 10 hours ago, f7ben said: I wore some big bruises from the toughest kid we know. We drank tequila the other night until I told him to bring it. That shit is for kids....I couldn’t move the next day. He said I knocked the wind out of him with a shot to the ribs and he had to stop though so I guess I won lol...I don’t remember a bit of it Fuck those days. Wake up the next morning feeling like you got hit by a car. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted August 2, 2020 Platinum Contributing Member Share Posted August 2, 2020 40 minutes ago, spin_dry said: The SEC was absent because Dubya sent 300 of the top regulators chasing bin laden. That effectively gutted the SEC. Why didnt Obama replace them ? Quote Link to comment Share on other sites More sharing options...
spin_dry Posted August 2, 2020 Share Posted August 2, 2020 11 minutes ago, steve from amherst said: Why didnt Obama replace them ? I guess you’d have to ask a banker if they’re back. Quote Link to comment Share on other sites More sharing options...
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