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The Eastman Kodak Company gave its CEO 1.75 million stock options just one day before the company’s stock soared amid news that it would receive a $765 million federal loan to manufacture critical drug components, the New York Times reported Friday.
When news of the White House deal went live earlier this week, Kodak’s shares ballooned by more than 1,000%, topping out at around $60 (they’ve since fallen to about $21, still a hefty jump from their average $2-3 cost). As a result of this incredibly fortuitous timing (wink), Kodak CEO Jim Continenza saw the value of his stock options soar to $50 million in less than 48 hours after receiving them, per the outlet.
One of the drugs Kodak will be looking into?�
Kodak Gave Its CEO Stock Options, Then News Broke of a Million-Dollar Federal Deal and Prices Soared
When news of the White House deal went live earlier this week, Kodak’s shares ballooned by more than 1,000%, topping out at around $60 (they’ve since fallen to about $21, still a hefty jump from their average $2-3 cost). As a result of this incredibly fortuitous timing (wink), Kodak CEO Jim Continenza saw the value of his stock options soar to $50 million in less than 48 hours after receiving them, per the outlet.
One of the drugs Kodak will be looking into?�
Kodak Gave Its CEO Stock Options, Then News Broke of a Million-Dollar Federal Deal and Prices Soared