Citigroup former chief executive Chuck Prince will receive stock options, grants and other benefits worth an estimated $29.5 million when he retires. The exit package includes in-the-money options of $1.28 million, assuming a Citigroup (C) stock price of $37.73 a share. It also includes deferred stock awards of $16 million, restricted stock of $10.7 million and retirement savings estimated at $1.4 million.
Stan O’Neal former CEO of Merrill Lynch & Co. (MER) who recently stepped down after the Wall Street giant also took big balance-sheet writedowns as a result of the turmoil in credit and mortgage markets. O’Neal will reportedly walk away with $ 160 million in stock and options and in retirement savings.