Intel CEO exercises options, enjoys $572K payday

Discussion in 'Wall St. News' started by S2007S, Apr 23, 2007.

  1. S2007S

    Intel CEO exercises options, enjoys $572K payday
    Monday April 23, 3:07 pm ET

    Intel Corp.'s chief executive officer made a $572,000 profit before taxes after exercising options for common stock Friday, according to a Securities and Exchange Commission filing.

    Paul Otellini, president and CEO of Intel, exercised the shares for $17.42 per share, selling them later in the day for $21.89.

    The Santa Clara-based company, which has a large campus in Folsom, has embraced an aggressive cost-cutting effort that has helped the tech giant improve its operations.

    Shares of Intel (Nasdaq: INTC) dropped 22 cents to $21.94 in midday trading Monday.
  2. $572k is not news.