WaMu awards CEO options
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From Times Wire Services
Washington Mutual Inc., whose share price sank 70% last year as mortgage losses soared, said it awarded Chief Executive Kerry Killinger 3.2 million stock options for 2008.
In a Securities and Exchange Commission filing, the largest U.S. savings and loan said its human resources committee granted the award to provide “a strong incentive to restore shareholder value.”
Killinger will not receive a bonus for 2007, the Seattle-based company said.
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