Four Subsea 7 managers excised share options and sold them.

[James McLauchlan]

This information is available in the public domain.

Source> http://www.newsweb.no/newsweb/search.do?messageId=253836
Do the maths.

Four Subsea 7 managers excised share options on or about 10.02.2010 and then sold the shares on open market.

COO John Evans took 60,000 option shares for NKr 2.7 million and sold them for NKr 6.2 million.

CFO Barry Mahon took 50,000 option shares for NKr 1.5 million and sold for NKr 5.18 million.

Dave Cassie took 12,000 option shares for NKr 0.35 million and sold for NKr 1.24 million.

Jan Willem van der Graaf took 2,500 option shares for NKr 73,725 and sold for NKr 259,000.

[madddawg]

@#$&s…All while the boys/girls on the sharp end get no pay reviews, no work, no nothing!!!!!

[luckyjim37]

Looking at them figures looks like they got a good deal.

[James McLauchlan]

Looking at them figures looks like they got a good deal.

Can I log that as one of the biggest understatements of 2010? 😉

@#$&s…All while the boys/girls on the sharp end get no pay reviews, no work, no nothing!!!!!

The reason the information was posted was to try and put into perspective who the winners are out of all this cost cutting and pleading of poverty from the companies. It clearly shows who’s creaming it at the expense of others further down the food chain.

regards
James Mc

[Scott Beveridge]

We are of course James, are below marine life… Doesn’t matter if we, the offshore workers do ALL the actual work and please the clients for follow up contracts…. I’ve worked for companies with 6 – 8 systems and with 40 – 50 people offshore at a time and there were…. wait for it…… drum roll…… 8 or 9 ( I repeat ) 8 or 9 people TOTAL in the office AND workshop – full stop… I remember S Club 7 when Whoryburton took over and the contact list was endless (approx. 2 pages…)!!!! There’s plenty more stories like this…. Orifice wallies…….. you got a lot to answer for…… And you all can quote me on this mini-rant….

[JoeBolt]

You can read brief career summaries and see photographs of three of the four people involved here: –
http://www.subsea7.com/subsea_p_emt.php

[baglimit]

i havent had the chance to research this yet, but……….

when were they actually granted these options ?

is it possible they were granted during the glory days ?

not supporting their windfall in any way, just trying to withdraw some of the emotion from the discussion.

[baglimit]

reading thru the 08 annual report it states that options were issued during the years 05 to 07 and plenty remained outstanding at end of 08. none were issued during 08. (unknown what occurred during 09)

[Author]

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