Qwest CFO Shaffer nets $4.8 million
By Jeff Smith
Rocky Mountain News
Tuesday, March 6, 2007
Qwest Chief Financial Officer Oren Shaffer, who is retiring
April 1, netted $4.8 million pretax from the sales of options
last week. He also sold $3.2 million of restricted stock,
according to a federal regulatory filing. Shaffer exercised 1
million stock options and sold 368,249 restricted shares, the
filing indicated. The restricted shares already have been taxed
but Shaffer may have a small amount of short-term capital gains
"It's part of his overall compensation package," said Qwest
spokeswoman Diane Reberger. She said the sales also are a
"personal decision" on Shaffer's part.
Shaffer has made nearly $30 million from stock sales since
November. Late last year, he netted $18 million from exercising
stock options and sold $2.1 million in restricted stock.
Shaffer, 64, announced his retirement last week after a nearly
five-year tenure with the Denver telco.