DETROIT, May 13 (Reuters) - Ford Motor Co Chief Executive Alan Mulally made about $1.7 million through a stock option that kicked in after Ford shares traded above $15 a share for 30 straight days, the automaker said on Friday.
This option was given to Mulally as part of his 2006 hiring agreement with Ford.
On May 13, Mulally bought 250,000 Ford shares for $8.28 each. He sold them for $15.25 a share the same day, according to a filing with the U.S. Securities and Exchange Commission.
He made a little more than $1.7 million through the transaction, before taxes. Mulally was able to exercise that option after Ford shares traded above $15 for 30 consecutive trading days, Ford spokesman John Stoll said.
(Reporting by Deepa Seetharaman; editing by Carol Bishopric, Gary Hill) Keywords: FORD/MULALLY (deepa.seetharaman@thomsonreuters.com; +1 313 416 4074; Reuters Messaging: deepa.seetharaman.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
This option was given to Mulally as part of his 2006 hiring agreement with Ford.
On May 13, Mulally bought 250,000 Ford shares for $8.28 each. He sold them for $15.25 a share the same day, according to a filing with the U.S. Securities and Exchange Commission.
He made a little more than $1.7 million through the transaction, before taxes. Mulally was able to exercise that option after Ford shares traded above $15 for 30 consecutive trading days, Ford spokesman John Stoll said.
(Reporting by Deepa Seetharaman; editing by Carol Bishopric, Gary Hill) Keywords: FORD/MULALLY (deepa.seetharaman@thomsonreuters.com; +1 313 416 4074; Reuters Messaging: deepa.seetharaman.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.