Bowling for options….

March 21, 2007

images7.jpegAnyone who spends any time reading blogs knows that the strikethrough is a popular device that’s used to type one thing, but really say another. But it’s unusual to see strikethroughs in other forms of writing, like SEC filings, for example. (An aside: just imagine if press releases from major companies started using this!) Yet that’s exactly where it showed up: in this exhibit filed by Dick’s Sporting Goods (DKS) last night.

Apparently, Dick’s first offer to incoming CFO Timothy Kullman of 35,000 options wasn’t enough to seal the deal. So Dick’s just crossed out that number and upped it to 50,000 options that vest over the next four years, plus tacked on another 25,000 options that “cliff vest” on the fourth anniversary. Kullman, who had been CFO of Petsmart (PETM) and received a hefty $622K retention bonus for agreeing to stick around Petsmart through early February clearly learned something from the dogs who frequent Petsmart’s stores: sometimes it pays to make a lot of noise.

Then again, maybe Dick’s got the message from Al Gore and it was all about saving paper. Or pixels. Or something.

Leave a Reply

You must be logged in to post a comment.