New Presstek CFO’s package revealed

NH Business Review Staff,

Jeffrey Cook, the man hired last week as Presstek’s new chief financial officer, will be earning $275,000 plus an annual bonus of slightly less than $150,000 for 2007, and has been awarded some 250,000 shares worth of stock options, according to a filing last Friday with the Securities Exchange Commission.

The 2007 bonus was based on a monthly pro-rated annual bonus of $165,000, according to the employment agreement. After that, Cook could receive up to 60 percent of his base salary. Cook would have the right to purchase options in annual equal installments of 41,667 shares over a six-year period at the exercise price of $6.01, closing price on the date he was hired.

Hudson-based Presstek named Cook, a former Kodak executive, to replace Moosa E. Moosa on Feb. 27. – BOB SANDERS

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