McAfee finance boss to get windfall after Intel takeover

 
Steve Dinneen
Follow Steve
NEW McAfee chief financial officer Jonathan Chadwick has seen stock options he was awarded just two weeks ago jump in value by more than $4m (£2.6m) following the firm’s takeover by Intel.

Chadwick was given 97,000 performance-related stock options and 125,000 restricted stock options on 6 August as part of a lucrative compensation package.

The day before Intel announced it’s bid McAfee shares were trading at $29.93, valuing the package at up to $6.7m. However, with Intel’s bid offering a 60 per cent premium to the market value of the shares, the package is now valued at up to $10.7m.

The shares are subject to a number of targets and stipulations, including his continued service for the firm. Intel says the package will be converted into the same dollar amount worth of its shares.

Intel surprised Wall Street by extending its grip on the desktop market last week when it swooped on anti-virus software maker McAffee.