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DETROIT (AP) - General Motors Corp. Chief Executive Rick Wagoner and several senior company executives have received performance-based stock awards, according to documents filed with federal regulators.
On Tuesday, Wagoner was granted 95,000 restricted shares of GM stock to be delivered in annual installments during the next five years, the company said Thursday in a filing with the Securities and Exchange Commission. The stock had an estimated value of $2.8 million on the day the shares were granted.
Wagoner also on Tuesday received an option to buy 500,000 shares at $29.11, below the Tuesday closing price of $29.35. The option vests and can be exercised annually in equal installments over three years, but Wagoner can wait as long as 10 years to exercise the option, according to the filing.
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