Deals
Buffett’s Takeover Gives Lubrizol Chief $97 Million Payout
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Warren Buffett’s $9 billion takeover of Lubrizol Corp. is scheduled to reward Chief Executive Officer James Hambrick with about $97 million in cash tied to his equity-based compensation.
Hambrick, 56, may receive cash payments of about $73 million on his stock options and about $24 million on his so-called performance-share units, Lubrizol said in a March 25 regulatory filing. Hambrick, who also serves as chairman, accepted the $135-a-share acquisition from Buffett’s Berkshire Hathaway Inc. this month.