Holidays Still Generous to Blockbuster Execs28 Dec, 2005 By: Erik Gruenwedel
Despite a tumultuous year, the holidays were generous for seven Blockbuster Inc. executives who collectively cashed out more than $1.7 million in stock options from Dec. 21 to 23.
The Dallas-based No. 1 video rental company, which reported a third-quarter (ended Sept. 30) net loss of $491.4 million, has seen its stock price plummet more than 65 percent this year, from $10.65 to $3.65 per share.
As a result, collective payouts to board chairman and CEO John Antioco ($689,551); EVP, CFO and CAO Larry Zine ($337,645); EVP and general counsel Ed Stead ($248,753); EVP Nicholas Shepherd ($160,429); EVP and president international Christopher Wyatt ($143,583); EVPs Frank Paci ($97,995) and Eileen Terry ($65,535), were about $3.4 million less than what they would have been a year ago.