Colfax’ CEO option grant
Yesterday Colfax (NYSE: CFX) filed a form 4 with the SEC that the company granted its new President and CEO Clay H. Kiefaber 102’124 options based on the equal amount of common shares of the company’s stock with an expiration date in exactly one year.
The most interesting point is the exercise price of this option grant:
The closing price of CFX stock at $ 12.27 on Jan 11th !
The press release of his nomination cites that when Kiefaber was Group President of Masco Corp. operating income and cash flow increased significantly:
Seems that he intents to do the same at Colfax this year!
I think this is a positive move for shareholders even if the time frame of this option grant is short:
The threshold of $ 12.27 is not artificially low and only one year in order to enhance shareholder value is challenging in this still rather difficult economic environment!