Monster Beverage Corp. has paid two top executives a combined $449 million in exchange for about 2.88 million shares purchased as part of a tender offer announced last month.
The Corona, Calif.-based company paid Chief Executive Officer Rodney Sacks and Chief Financial Officer Hilton Schlosberg $156 per share, according to regulatory filings. The two jointly own most of their stakes in the energy-drink maker through a number of limited partnerships.
Monster announced last month that it would spend as much as $2 billion on a modified Dutch auction to buy back shares at prices ranging from $142 to $160. ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.