Teva employees gain $222m on options

Teva added in the 20-F form that chairman Philip Frost sold 871,000 shares in the company during 2010, for a total of $47 million.

Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) employees exercised 7.3 million options during 2010, at a profit of $222 million, the company stated in a filing with the US Securities and Exchange Commission (SEC). Employees exercised 6.8 million options in 2009, for a profit of $160 million.

Teva added in the 20-F form that chairman Philip Frost sold 871,000 shares in the company during 2010, for a total of $47 million. He owned 14 million shares at the end of the year, which are currently worth $724 million.

Teva executives and directors received aggregate salary of $16.8 million in 2010, similar to what they earned in 2009.

On the 20-F Teva also reported that it had 39,660 employees, growth of 13% compared with 2009. In Israel, the number of workers rose 7.5% to 6,774.

Teva's share price rose 0.2% on Nasdaq yesterday to $51.70, giving a market cap of $48.39, and was unchanged in early trading on the TASE today at NIS 188.40.

Published by Globes [online], Israel business news - www.globes-online.com - on February 16, 2011

© Copyright of Globes Publisher Itonut (1983) Ltd. 2011

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