Home Depot’s Nardelli Gets 200,000 Deferred Shares
Atlanta, GA, August 12-- A according to a filing with Securities and Exchange Commission Home Depot Inc. gave chairman and CEO Robert Nardelli 200,000 deferred shares and 100,000 stock options.
Half of the deferred common shares become exercisable in two equal installments on the third and sixth anniversaries of the grant date. The other half becomes exercisable when Nardelli turns 62 years old, according to the Form 4 filing.
The stock options have a strike price of $32.90 are exercisable in four equal annual installments beginning two years from the grant date, the filing said.
The company granted the shares and options last Friday under its 1997 omnibus stock incentive plan, according to the filing from Tuesday.
The company in March reported granting Nardelli 500,000 stock options and 200,000 deferred shares.
According to Home Depot's latest proxy statement, Nardelli received 565,000 stock options and 385,000 deferred shares in the year ended Feb. 1.
