Retiring Qwest exec exercises options
By Andy Vuong, Staff Writer
Monday, June 18, 2007
Article Last Updated: 06/18/2007 10:15:18 AM MDT
Qwest executive vice president of operations Barry Allen, who is
retiring at the end of this month, has exercised 1 million stock
options and sold the shares for a pretax profit of roughly $5.37
Allen exercised the options at prices ranging from $3.44 to
$6.15 and sold the shares for prices ranging from $9.52 to
The transactions, which accounted for Allen's remaining vested
stock options, occurred on Thursday and were disclosed in a
filing with regulators late Friday.
"The insider window closed on Friday," said Qwest spokeswoman
Diane Reberger today. "He only has three months from the day he
retires to exercise any options."
Last week, Qwest chief executive Dick Notebaert, who helped turn
around the Denver-based company over the past five years,
announced he would retire as soon as the board finds his
Notebaert has roughly 7 million vested stock options and owns
752,000 shares through restricted stock awards. He has 6 years
from the day he retires to exercise his vested options.
Another company insider, Qwest executive vice president of mass
markets Paula Kruger, exercised 100,000 options on Wednesday and
sold the shares for a pretax profit of roughly $461,000.
Qwest stock was down a penny to $9.60 during midday trading
Allen announced his retirement two weeks ago. He is leaving
639,000 unvested stock options on the table.
Staff writer Andy Vuong can be reached at 303-954-1209 or