TheStreet executives set to cash in with deal
The Street, which is finalizing the $87.3 million sale of The Deal and BoardEx to Euromoney later this month, revealed that most of its top executives will receive millions once the deal closes, reports Keith Kelly of the New York Post.
Kelly writes, “Jim Cramer, the founder and largest shareholder, and host of CNBC’s ‘Mad Money,’ will line his pockets with another $1,365,334 thanks to the early vesting of 666,667 shares of unvested restricted stock units, according to a New Year’s Eve SEC filing.
“The Street CEO, David Callaway, is out of a job once the deal closes — but shed no tears for him either, or any of the other top executives.
“Callaway will be snagging $1.3 million, split between $772,500 in cash, another $484,335 in equity, plus advance payment of a 2018 bonus and other payments.
“The Street CFO, Eric Lundberg, will be getting $1.47 million in cash, stock and bonuses as a result of the sale. On top of that, he’ll have a new annual base salary of $450,000 for his promotion to CEO of The Street. That deal payout comes with bonuses of $300,000 in a lump sum six months after the deal closes, another $300,000 a year later and $200,000 payable in monthly installments starting one year after the sale.”
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