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Hesse picks up a million extra shares.


legion125
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Maybe Hesse isn't in job jeopardy with the MetroPCS deal. Since these are performence related, I'll be curious to see what metrics he has to meet to cash in. I think out of all the carrier CEO's Hesse may have the one of the highest compensation packages if stocks are included.

 

http://www.kansascit...ins-nearly.html

 

 

 

Sprint’s Hesse gains nearly a million shares

 

 

Dan Hesse, chief executive of Sprint Nextel Corp., picked up nearly 1 million restricted Sprint shares last week as the wireless carrier rewarded management under its long-term incentive plans.

 

The restricted 997,768 shares don’t become Hesse’s until they vest in February 2015. A filing with the Securities and Exchange Commission said vesting will be subject to performance-based vesting conditions. A spokeswoman said Monday those conditions would be reported in future filings.

 

It’s a boost from last year, when Hesse received 965,000 restricted shares under the incentive plan. Since then, Sprint shares have lost about $2 a share in value. The plan compensates executives based on business targets such as cash flow and revenues.

 

With the additional restricted shares, Hesse becomes the beneficial owner of 4,685,364 shares, about 60 percent of which are restricted, the filing showed.

 

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Of course if he were to drive the company off of a cliff then all of those shares would become essentially worthless. That'd be a very strong motivator if I were Hesse...

 

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Think we discussed this last week even. It's not that he's rewarded he still has to earn them as they don't fully vest till like 2015 if i remember correctly...

So really doesn't mean too much right now as they were set up for a bunch other execs at sprint too (10 I think total) and all off a compensation play from back in 07....

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