Citadel Execs Get Stock Options

November 24, 2010: Citadel Broadcasting recently voluntarily withdrew stock grants to top executives, and has now provided stock options instead.

R2 Investments had filed suit over the grants, saying they violated Citadel's approved reorganization plan. With Citadel's change of heart, R2 dropped the lawsuit.
 Citadel CEO Farid Suleman has now been granted options on 1.9 million shares at an exercise price of $28, and 632,398 shares at $32.COO Judy Ellis gets 99,798 shares at $28 and $33,265 at $32, while CFO Randy Taylor and VP/General Counsel Jacqueline Orr each receive 79,838 shares at $28 and 26,613 shares at $32. SVP/Finance & Administration Patricia Stratford is granted 56,137 shares at $28 and 18,711 at $3

Members of the Citadel board also received options. All the options vest in three equal annual installments beginning in June 2011, and the options expire in November 2020.
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