Report: GM gives $6.66M in stock to 14 top execs
Current numbers in BusinessWeek have revised that potential payday to $11.6 million. There were 123,347 shares disbursed, priced at $53.98 each, giving that tranche a nominal value of $6.66 million. BusinessWeek assumes GM has 500 million total shares, and working backwards from analysts' valuation numbers and bond prices, concludes that GM paper is worth roughly $94 per share. If the IPO goes by that market rate, there will be $11.59 million in the kitty. Ed Whitacre received the largest haul, of course, awarded $2.31 million in shares based on the forecasted $94 rate.
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