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Thursday, 09 August 2007 11:28

Dell's Rollins got $48million handshake

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Not $5 million

 

Kevin Rollins who supposedly walked away from Dell with a measly US$5 million payout got nearly ten times that amount.

Dell has admitted that when it comes to file its annual report it will reveal that it will pay Rollins US$48.5 million. The money comes in the form of a payment in lieu of stock options.

According to ZDNet, Rollins, who resigned on January 31, after the company lost first place in the market to rival HP had saved up 7.3 million shares of Dell stock options.

However when he left he could not sell his shared because the company is under investigation by the Securities and Exchange Commission and is trying to sort out questions over its accounting.

Instead, Dell agreed to pay Rollins the $48.5 million, which represents the value of his stock options.

More here.

Last modified on Thursday, 09 August 2007 11:28

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