Clearwater, Fla.
Several Lincare executives are cashing in stock options as they sign new employment agreements extending their tenure with the home respiratory giant through 2009.
Chairman and CEO John P. Byrnes, President and COO Shawn Schabel and CFO Paul Gabos all signed with the company for the next five years. Schabel will also exercise options and sell up to 460,000 shares of company stock by Nov. 30, 2005, while Gabos will sell up to 440,000 shares by Dec. 31, 2005, according to a company statement. The agreement is subject to shares hitting price targets.
“They've done a good job on getting results, or they wouldn't be offered those kinds of packages,” said Michael Barish of Coral Springs, Fla.-based AnCor Consulting, adding that Gabos' shares alone could bring up to $17 million.
Lincare serves more than 520,000 customers in 47 states.
