Thermo Fisher execs reap millions from options
Thermo Fisher Scientific chairman Paul Meister and CEO Marlin Dekkers cashed in millions of dollars worth of stock options at the end of last week, capitalizing on the stock’s growth since the November merger between Hampton-based Fisher Scientific and Thermo Electron.
Meister, who was originally from Fisher, exercised some 377,500 stock options granted at the merger at nearly $20 a share, selling them off at slightly more than $45 per share, for a profit of $9.7 million. He also sold another 268,000 shares of stock at more than $45 a share, but is not clear at what price he obtained the stock.
Dekkers, originally from Waltham, Mass.-based Thermo, reported exercising some 300,000 options at a similar price, netting more than $7.5 million. Six other board members and officers also exercised options, though not on such a large scale.
Meister and Dekkers conducted the sale under a prearranged 10b5-1 trading plan, which – according to the Associated Press – allows a company insider to set up a program in advance for such transactions and proceed with them even if he or she comes into possession of material non-public information.
Thermo Fisher Scientific is now based in Waltham, but has committed to keeping open its Hampton facilities at least from another three years. – BOB SANDERS