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Office Depot, Inc. Message Board

  • twodogs80 twodogs80 May 6, 2011 5:11 AM Flag

    Office Depot Stock Bonanza for Officers and Directors

     

    Office Depot: New Form 4 SEC filings show Office Depot has rewarded its directors and officers with a stock bonanza!

    Office Depot considered a management disaster for the last three years, sill decided to award the high and mighty at the beleaguered office supply company.

    Investigations and lawsuits mount, sales have fallen for 13 consecutive quarters...and yet the officers and directors reward themselves with a stock bonanza!

    http://investor.officedepot.com/phoenix.zhtml?c=94746&p=irol-sec

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    • This is an accurate post, each director got over $100K in free stock. Thats what happens when 5 people show up at the shareholders meeting. The apathy of the shareholders is what gives them the blank checks that they write. None of the major stakeholders submitted any candidates for the board and the blind mice just voted in the incumbents.

      • 1 Reply to philobeddoe
      • There should no surprise that these payments were made. They are part of the standard compensation package of the Board. They are not dependent on the company's performance

        72% of Depot shares are owned by institutional investors and mutual funds. These shareholders obviously are not upset with the CEO and Board's actions. Otherwise, they would have voted their proxies and pushed for changes in mgmt or the Board.

 
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