John Thain, chairman and chief executive of Merrill Lynch, has $5.2m (€3.9m) in stock-based awards that would be settled or become exercisable if the merger with Bank of America completes by the end of this year.
Merrill Lynch detailed the cash value of unvested or unexercisable stock-based awards that would be settled or become exercisable due to the completion of the merger on December 31, 2008 in a proxy filing with the US Securities and Exchange Commission.