The Association of U S West Retirees



Qwest execs cash in
By Andy Vuong
Denver Post
Thursday, January 4. 2007

Qwest chief executive Dick Notebaert has sold 410,800 Qwest shares worth $3.44 million, according to a filing with regulators today.

Also, the company’s chief financial officer Oren Shaffer has sold 256,751 Qwest shares worth $2.15 million, a separate filing showed.

In November, Notebaert and Shaffer each exercised more than 3 million stock options and sold the shares.  They each made a profit of more than $18 million from the transactions, though Notebaert stated that he would donate the after-tax proceeds to non-profits.

It’s unclear whether Notebaert plans to do the same with the latest stock sale, which was completed at the end of December.

“Compensation matters such as these are personal decisions,” said Qwest spokesman Bob Toevs.