Sprint’s Hesse Poised for $40 Million or More in Severance Pay
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Sprint Corp. may owe outgoing Chief Executive Officer Dan Hesse severance pay exceeding $40 million in cash, stock and benefits.
Most of the package comes from long-term incentives such as stock options and restricted stock. That portion was valued at $48.3 million alone at the end of March, though Sprint shares have fallen 21 percent since. Hesse’s total severance package would have been $56.2 million at the time, according to a filing in June.