Categories: OLD Media Moves

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.”

Read more here.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.

Recent Posts

PCWorld executive editor Ung dies at 58

PCWorld executive editor Gordon Mah Ung, a tireless journalist we once described as a founding father…

22 hours ago

CNBC taps Sullivan as “Power Lunch” co-anchor

CNBC senior vice president Dan Colarusso sent out the following on Monday: Before this year comes to…

2 days ago

Business Insider hires Brooks as standards editor

Business Insider editor in chief Jamie Heller sent out the following on Monday: I'm excited to share…

2 days ago

Is this the end of CoinDesk as we know it?

Former CoinDesk editorial staffer Michael McSweeney writes about the recent happenings at the cryptocurrency news site, where…

3 days ago

LinkedIn finance editor Singh departs

Manas Pratap Singh, finance editor for LinkedIn News Europe, has left for a new opportunity…

4 days ago

Washington Post announces start of third newsroom

Washington Post executive editor Matt Murray sent out the following on Friday: Dear All, Over the last…

5 days ago