AUSWR
The Association of U S West Retirees
 

 

 

Qwest executive VP unloads options
Paula Kruger exercised 100,000 options and sold the shares for a profit of $460,737 two days after Dick Notebaert announced he was retiring as chief executive.
By Andy Vuong, Staff Writer
Denver Post
Friday, June 15, 2007

Qwest executive vice president of mass markets Paula Kruger exercised and sold 100,000 stock options two days after Dick Notebaert announced he was retiring as chief executive and chairman, according to a regulatory filing Thursday.

Kruger recorded a pretax profit of $460,737 from exercising options with a strike price of $4.70 and selling the shares at prices ranging from $9.30 to $9.35 on Wednesday, the company disclosed in a filing with the Securities and Exchange Commission.

Kruger is one of six Qwest officers who have to report stock transactions to the SEC.

Qwest stock closed Thursday at $9.57, up 10 cents.  The shares fell 8 percent Monday after Notebaert said he would retire as soon as the board of directors finds a replacement.

"With the officers, they have limited windows every quarter to exercise," said Qwest spokeswoman Diane Reberger.  "It's a personal decision."  Kruger was unavailable for comment Thursday, Reberger said.

Kruger still has roughly 1.2 million stock options, including 638,000 that are vested.

Staff writer Andy Vuong can be reached at 303-954-1209 or avuong@denverpost.com.

http://www.denverpost.com/business/ci_6143340