WaMu awards CEO options
From Times Wire Services
Washington Mutual Inc., whose share price sank 70% last year as mortgage losses soared, said it awarded Chief Executive Kerry Killinger 3.2 million stock options for 2008.
In a Securities and Exchange Commission filing, the largest U.S. savings and loan said its human resources committee granted the award to provide “a strong incentive to restore shareholder value.â€
Killinger will not receive a bonus for 2007, the Seattle-based company said.
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