Eastman Kodak's top executive reportedly got Trump deal windfall on an 'understanding'

CNBC · 2020-08-02
One day later, the administration of President Donald Trump announced a $765 million financing deal with Eastman Kodak, and in the days that followed the stock soared, making those additional options now held by executive chairman Jim Continenza worth tens of millions ... The options were granted to shield Continenza's overall stake in the company from being diluted by a $100 million convertible bond deal clinched in May 2019 to help Eastman Kodak stay afloat, according to the person's account ... That arrangement reported by Reuters for the first time sheds new light on Eastman Kodak's handling of the unexpected windfall for its top executives.
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