Tyco Board Approves Stock Awards for CEO Breen
March 29 2004 - 4:30PM
PR Newswire (US)
Tyco Board Approves Stock Awards for CEO Breen PEMBROKE, Bermuda,
March 29 /PRNewswire-FirstCall/ -- The Board of Directors of Tyco
International Ltd. has approved stock option and restricted stock
awards for the company's Chairman and Chief Executive Officer,
Edward D. Breen. The awards consist of 200,000 restricted shares,
which vest on the third anniversary of the grant date, and 600,000
premium priced stock options with strike prices ranging from $33 to
$40, which vest in equal annual installments over a three-year
period beginning immediately after the grant date. The Compensation
Committee of the Board also approved stock option grants for Tyco's
senior executives and other key employees. These shares represent
less than 1 percent of the company's total shares outstanding. Tyco
International Ltd. is a diversified manufacturing and service
company. Tyco is the world's leading provider of both electronic
security services and fire protection services; the world's leading
supplier of passive electronic components; a world leader in the
medical products industry; and the world's leading manufacturer of
industrial valves and controls. Tyco also holds a strong leadership
position in plastics and adhesives. Tyco operates in more than 100
countries and had fiscal 2003 revenues from continuing operations
of approximately $37 billion. Contacts: News Media David Polk,
609-720-4387 Investor Relations Ed Arditte, 609-720-4621 John
Roselli, 609-720-4624 DATASOURCE: Tyco International Ltd. CONTACT:
News Media, David Polk, +1-609-720-4387, or Investor Relations, Ed
Arditte, +1-609-720-4621, or John Roselli, +1-609-720-4624, all of
Tyco International Ltd. Web site: http://www.tyco.com/ Company News
On-Call:http://www.prnewswire.com/comp/897850.html
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