U.S. Markets closed

Texas Instruments Ex-CEO May Forfeit $43.3 Million on Misconduct

Anders Melin, Alicia Ritcey, Jenn Zhao
Texas Instruments Ex-CEO May Forfeit $43.3 Million on Misconduct

Texas Instruments Inc.’s Brian Crutcher, who resigned as chief executive officer after just six weeks on the job, could be forced to surrender as much as $43.3 million of stock awards. Crutcher, who resigned after the semiconductor maker said he violated its code of conduct, held stock options and restricted shares valued at about $20.6 million and $22.7 million as of Tuesday’s market close, data compiled by Bloomberg show. An executive who’s fired for cause -- which usually includes policy breaches -- can lose both restricted shares and stock options, Texas Instruments said in its most recent proxy statement.