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These shares would then be issued for acquisitions, employee stock incentive plans and other stock sales.
The company's board also authorized the buyback of $750 million in shares for stock incentive and option plans.
And they risk repeating that in the future, having set up another stock incentive plan payable over the next three years worth as much as $39 million.
The company is creating a class of nonvoting shares that will be issued for employee stock incentive plans, acquisitions and other stock sales.
That helped its senior management, including the chief executive, David C. Dvorak, collect millions in cash and stock incentive payments by meeting earnings-per-share goals.
In March, the S.E.C. announced a settlement with Beazer, seeking to "claw back" cash and stock incentive payments that Mr. McCarthy earned during a period when the company's financial reports were in error.
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A company spokesman, Paul E. Jacobson, said the stock incentives did not affect the executives' plans for Adelphia.
Jamie Dimon of JPMorgan Chase, for instance, received $23 million last year through a combination of salary and cash and stock incentives, according to the firm's most recent proxy statement.
During the depths of the financial crisis, banks on government assistance handed out millions of options and stock incentives at low prices.
In the depths of the financial crisis in 2008 and 20009, when the Standard & Poor's 500-stock index was touching below 700, bank executives were granted millions in options and stock incentives valued at incredibly low stock prices.
To Dimon, who earned $16 million for 2009 — all but $1 million of it in long-term stock incentives — the slap was the sort of broad-brush slur he was hearing too much of on all sides.
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