Back in July, Kyphon (ticker:KYPH), a Sunnyvale maker of devices used to repair spines, announced it had agreed to be bought for $3.9 billion sale to rival Medtronic of Minneapolis. The deal arose over a nasty legal dispute between the two companies.
But there’s nothing like a big, fat deal to turns swords back into plowshares. And nobody may have bigger grins than the execs at Kyphon who are now in line for a big windfall if the deal goes through.
In a proxy filed Friday in connection with the merger, Kyphon included a table that disclosed how much executives can expect to receive for their options and restricted stock units. All told, 15 insiders will get a total of $144.1 million.
The big winners include:
- Richard Mott, CEO and president: $53,548,730
- Karen D. Talmadge, Executive Vice President, Co-Founder and Chief Science Officer: $31,039,969
- Jack W. Lasersohn: $14,493,065
- David M. Shaw: $13,344,825
- Arthur T. Taylor, Vice President, Chief Operating Officer: $7,737,113
- James T. Treace, Chairman: $7,233,954
- Bradley W. Paddock, Vice President, US Sales: $4,833,433
- Robert A. Vandervelde, President, International: $4,219,368
And if, heaven forbid, any of these poor souls gets fired, there is additional severance awaiting them, not to mention their annual bonuses.