Maryam Banikarim has sold 25,000 shares of Gannett stock from options awarded to her two years ago, when she was named chief marketing officer, according to a just-filed regulatory document.
Banikarim, 44, sold the shares Friday. The strike price was $15.41 each. She sold them for $20 a share, netting her about $116,000, according to the filing this afternoon with the U.S. Securities and Exchange Commission.
The options were among 50,000 she got as an apparent signing bonus when she joined Gannett in March 2011. They vested in four equal installments starting Dec. 10, 2011.
GCI's stock closed today at $20.85, up 39 cents, or 1.9%, on a day when the broader market hit record highs. Earlier in the day, shares traded for $21, a 52-week high.
In addition to the 50,000 options when she joined the company, Banikarim also was awarded 25,000 restricted shares that she may claim Dec. 10, 2014. These so-called RSUs give recipients the right to receive shares at a later date, a form of deferred compensation meant to both encourage executives to stay at a company while also working to boost a stock's market price.
The options form only part of her annual compensation. Her total pay wasn't subject to public disclosure in 2011 -- the most recent year available -- because she wasn't among the six highest-paid executives that year.
Executive compensation figures for 2012 are expected to be disclosed later this month.
 |
| Banikarim |
The options were among 50,000 she got as an apparent signing bonus when she joined Gannett in March 2011. They vested in four equal installments starting Dec. 10, 2011.
GCI's stock closed today at $20.85, up 39 cents, or 1.9%, on a day when the broader market hit record highs. Earlier in the day, shares traded for $21, a 52-week high.
In addition to the 50,000 options when she joined the company, Banikarim also was awarded 25,000 restricted shares that she may claim Dec. 10, 2014. These so-called RSUs give recipients the right to receive shares at a later date, a form of deferred compensation meant to both encourage executives to stay at a company while also working to boost a stock's market price.
The options form only part of her annual compensation. Her total pay wasn't subject to public disclosure in 2011 -- the most recent year available -- because she wasn't among the six highest-paid executives that year.
Executive compensation figures for 2012 are expected to be disclosed later this month.
Worth every penny we are paying her for the sheer comedy she brings every day she pretends she has a clue.
ReplyDeleteIndeed. Ask her about the status of the Purpose Project and the wondeful Purpose Wall. Now that's comedy.
DeleteWhat a waste.
ReplyDeleteHow many narcissistic sociopathic blue balls can one buy for $116,000?
ReplyDeleteA small price to pay for the spectacularly bad PR she generated with her Blue Balls memo.
ReplyDeleteWho else could you pay so little to make your brand a laughingstock throughout the media world? Who else could give so many such a big laugh.
She's a genius. Perfect for Gannett.
The only bigger disaster than Blue Balls is USA TODAY SPORTS. The new Sports on Earth now has no reason to exist since Joe Posnanski deserted the first time somebody dragged a dollar under his nose.
Yes, the new geniuses in SPORTS managed to screw up USA TODAY's best, most-read and most profitable section. Only Gannett could manage such a coup, snatching defeat from the jaws of victory.
Maybe BBB will come up with some marketing campaign to spin the SPORTS debacle into a triumph. Can't wait!
At the first-ever Gannett upfront presentation to advertisers in NY yesterday, our friend Maryam was introduced to the song "This Girl is On Fire".
ReplyDeleteShe then proceeded to contribute almost nothing of interest to the event. She'd have been better off staying away....like our CEO.
Are you serious?
DeleteShe needed an entrance theme? No wonder this company is a joke.
DeleteThis comment has been removed by a blog administrator.
DeleteGreat, maybe now she can afford do something with Medusa-like hair of hers.
ReplyDeleteThat is a very early cashing out of options. I wonder if she is planning to leave, or just needed the money.
ReplyDeleteNot entirely. Here's why: The 50,000 options vest in four equal annual installments starting Dec. 10, 2011.
DeleteBut GCI's closing price that date was $13.34 a share -- below the fixed strike price of $15.41. In other words, they were worthless when they first became available.
GCI didn't trade above $15.41 until late January 2012 -- and then only briefly before it quickly fell back. It wasn't until this past September that it traded consistently and meaningfully above $15.41.
So, bottom line: She could have cashed out as long as six months ago on the first 12,500. But she would have missed out on the stock's run-up since then.
She's outta there. It's that time of year, on to the next company to re-purpose the Purpose Project and Speaker Series...
ReplyDeleteOn to re-brand yet another company.
DeleteThis comment has been removed by a blog administrator.
ReplyDeleteRe-brand and massacre.
ReplyDeleteAnd what exactly have we received for our money? We're all still waiting for that list of 3-5 things she has accomplished since she's been here.
ReplyDeletePerhaps she could use her sudden wealth to buy a clue, cuz she ain't got one...
ReplyDeleteJim @ 1:15 pm -
ReplyDeleteSorry, but It is unusual to cash out your options as they vest or at any time before the award is fully vested. It is especially unusual for an insider and even more unusual if you are committed to the company for the long haul. She either has a personal financial need to take her profits now, is planning an exit from the company, or has no confidence that the stock will be even higher when the next portion vests in 10 months.
Maybe she needs cash to pay her 2012 income taxes.
DeleteMaryam is doing a great job and is respected and admired by all.
ReplyDeleteI'm reminded of a famous line from the "Manchurian Candidate." Paraphrased, it goes like this:
DeleteMaryam Banikarim is the kindest, bravest, warmest, most wonderful human being I've ever known in my life.
And I'm the next Pope. Now we're all wrong.
DeleteThen you really do know her. To know her is to love her.
ReplyDeleteCan anyone imagine Gannett without the inspired great leadership and guidance and light of Maryam Banikarim?
ReplyDeleteI just thank the Lord everyday. I mean, she could have chosen any company to turn around, but by God she chose us. Happy.....just happy.
DeleteMaryam your nacissism is getting really pathetic. Please stay off the blog making comments about yourself.
DeleteThat is a very early cashing out of options. I wonder if she is planning to leave, or just needed the money.
ReplyDeletePresswire
I am very pleased for her...I am sure she is worth every penny.
ReplyDeleteJust keep singing....
ReplyDeleteThis Girl is on Fire!!
"This girl is on fire"? Burn baby burn. No, not "Disco inferno". Just burn baby, please burn.
ReplyDelete