Looks like Saunders is getting the last laugh...to the tune of $39 million laughs....
Allergan CEO Brent Saunders’ meteoric rise through pharma’s chief exec ranks is paying off, and in a big way. If he’s let go after AbbVie’s $63 billion takeover of the California company goes through, Saunders will net a cool $38.7 million.
According to a regulatory filing, the Allergan skipper will pocket $14.9 million in cash as part of his golden parachute. That’s on top of $23.6 million in equity, the majority of which is made up of stock awards that pay off based on performance.
That, of course, doesn’t include the 167,909 shares of Allergan that Saunders currently holds. At AbbVie’s takeover price of $188 per share, those are worth more than $31 million.