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
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
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