Harris Stratex awards CEO Braun with performance bonus tied to stock - 17 Nov 2009

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Harris Stratex awards CEO Braun with performance bonus tied to stock


Triangle Business Journal



Call it a million-dollar day for Harris Stratex CEO Harald Braun.


Securities documents filed on Monday show that the Morrisville
company (NASDAQ:HSTX) is granting the CEO more than 150,000 shares of
company stock as a performance-based bonus.


Based on the Tuesday mid-morning price of $6.50 a share, the take is
worth about $1 million. With the payout, Braun now owns 283,469 shares
of the company. These shares have vesting restrictions, the company
stated in its filing.


Securities filings also revealed that Braun received an additional
156,000 shares in options, which will vest 33 percent in 2012 and
subsequently monthly in the following two years.


Calls to company Vice President and Consul Meena Elliott were not returned.


In the past 52 weeks, Harris Stratex shares have traded between $3 a
share and $7.79 a share. Currently, the company’s market cap rests at
about $380 million.


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