Discovery’s Hendricks cashes in options

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.

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