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Article: ConAgra stops offering stock options to executives
- Article from:
- Deseret News (Salt Lake City)
- Article date:
- August 21, 2003
- Author:
CopyrightCopyright 2003 Deseret News (Salt Lake City). Provided by ProQuest LLC. (Hide copyright information)
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OMAHA, Neb. -- ConAgra Foods has stopped offering stock options to
its top executives as debate continues over executive compensation.
ConAgra awarded restricted stock in fiscal 2003 to chief executive
Bruce Rohde and other top managers, the company said in a proxy
statement issued before its Sept. 25 stockholders meeting.
Stock options have been blamed for giving employees incentive to
manipulate earnings to inflate the stock price and cash in at a later
date. Restricted stock gives shares outright with payout promised
regardless of what happens to the company's shares.
Some companies also have been criticized for not listing stock
options as an expense.
ConAgra's proxy statement listed ...