LONDON -- Charles Allen, executive chairman of ITV shareholder Granada, has landed a share option package worth £1.9 million ($3 million), which he may cash in if the company's stock price, currently at $1.28, outperforms most global media companies in the next three years.
The U.K. company's future growth opportunities hang in the balance. Granada is awaiting a decision from British competition authorities on its proposed $4 billion merger with Carlton Communications, another ITV shareholder, which would significantly improve its ranking as a global media company.
Allen earns $2.1 million a year and owns shares worth $962,000, according to the company's annual report. His options will be adjusted if the merger is approved.
Other execs to receive share options include finance director Henry Staunton (over $1.6 million) and commercial director Graham Parrott ($1 million).
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