• Home
  • About
  • Webcasts
  • ‘Enforcement 40’ for 2020
  • Enforcement Hall of Fame
  • Contact
Securities Docket
Ankura 480x60
  • Class Actions
  • Criminal
  • Global
  • People
  • SD Insider
  • SEC
  • Video
  • Subscribe by email
  • Subscribe
Browse: Home / 2020 / November / 12 / Former Kodak executives given millions in stock for options they did not own | Financial Times

Former Kodak executives given millions in stock for options they did not own | Financial Times

By Securities Docket on November 12, 2020, 10:00 am

The company said internal “deficiencies” allowed five former officers and employees to exercise 300,000 options they had previously forfeited, according to a filing with the Securities and Exchange Commission. Kodak said it took a $5.1m expense in the third quarter related to the options.

Errors in the accounts of other current and former employees could have resulted in additional “inappropriate exercises”, it warned.

Kodak said it would seek to recover $3.9m from the five former executives for the fair value of the shares, as well as the right to retain $3m worth of withholding taxes on behalf of the ex-employees. Kodak added that it could not be certain its claims would succeed.

via Former Kodak executives given millions in stock for options they did not own | Financial Times.

Blog Widget by LinkWithin

Posted in Industry, Top | Tagged Options

« Previous Next »

‘Enforcement 40’ for 2020

Securities-Docket_Medium-Rectangle_CaseStudyArrow

Our Sponsors

Securities-Docket_260x125_14Sec Ankura 260x125

Join Us On LinkedIn

Join the Securities Litigation and Enforcement Group on LinkedIn

Archives

Copyright © 2021 Securities Docket.

Powered by WordPress and Hybrid.