Whittington To Receive $1.6 Million in Cash Upon Exit From Windstream

by Michelle Corbet  on Friday, Aug. 22, 2014 4:59 pm  

Brent Whittington, who this week submitted his resignation as chief operating officer of Windstream Holdings Inc., will leave with a severance package that includes $1.6 million in cash, the company revealed  Friday.

In a filing with the Securities & Exchange Commission, Windstream said Whittington's 160,824 shares of restricted stock — worth about $1.8 million at Friday's closing price of $11.24 — would immediately vest and that he'll receive more shares, about $650,000 worth, early next year. He'll also receive the dividend — currently $1 a share — associated with the shares.

Whittington's resignation is effective Sept. 1.

 

 

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