Discovery’s Hendricks cashes in options
July 15, 2013
By Chris Forrester
According to stock exchange data, Discovery Communications founder John Hendricks has cashed in over 750,000 stock options and pocketing a thumping $51 million in the process.
Hendricks founded Discovery back in 1985. He has taken advantage of Discovery’s record-breaking high-point in terms of its share price – they are up 33 per cent this year – which has propelled his options into very high values.
He was able to exercise his options at $14.53 each, and sell them on the open market at prices between $73 and $82 a share.