Checkpoint CEO given 270,000 options
NEW YORK, Dec 31 (Reuters) - Retail security provider Checkpoint Systems Inc (CKP.N) said on Monday its compensation committee made an inducement grant of non-qualified stock options exercisable for 270,000 shares of the common stock to Robert van der Merwe, the company's recently appointed chief executive officer.
Checkpoint said the grant was in addition to options to purchase 230,000 shares, as well as 20,000 restricted stock units previously granted.
It said all of the stock options have an exercisable price of $22.71 per share, the last sales price of the company's common stock on the date of grant, Dec. 27, when van der Merwe was appointed.
Checkpoint shares closed down 62 cents, or 2.3 percent, at $25.98 on Monday on the New York Stock Exchange. (Reporting by Yinka Adegoke)
