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N 2000, when Intuit Inc. wanted to hire Stephen Bennett, then an executive vice president at General Electric Capital Corporation, as Intuit's new chief executive officer, the board wooed him with a heaping chunk of stock: 800,000 nonqualified stock options and 150,000 restricted shares. Offered at $67 a share, the options were underwater at press time, with Intuit stock valued at $49. But the restricted shares are currently worth some $7.35 million.
May 01, 2004 at 12:00 AM
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The original version of this story was published on Law.Com
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