Benefits & Executive Compensation News

Ousted McDonald’s CEO Gets to Keep $37 Million of Stock Awards

Nov. 4, 2019, 5:11 PM

Former McDonald’s Corp. Chief Executive Officer Stephen Easterbrook, who was fired for having a relationship with an employee, was allowed to keep stock awards worth more than $37 million as well as $675,000 severance and health insurance benefits.

Easterbrook, 52, will get to keep unvested stock options worth about $23.5 million and possibly benefit from grants of restricted shares tied to the company’s performance that are worth roughly $13.8 million at their target payouts, according to calculations by Bloomberg. He’s also eligible for a pro-rated bonus for his work in fiscal 2019.

McDonald’s board voted Friday to oust Easterbrook...

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