Tribune Executives Make a Bundle

According to Chicago Business many of the Tribune Company executives made a bundle on the first tender offer. They must be doing a great job of turning the company around, otherwise why would they be paid so well?

Here's a tidbit of what was filed with the SEC:

• CEO Dennis FitzSimons raked in about $8.6 million by selling about 253,000 shares. He still holds nearly 372,000 shares. Mr. FitzSimsons made an additional $800,000 in shares sold from his 401(k) account.
• Publishing President Scott Smith made nearly $4 million from selling about 117,000. He still holds more than 155,000 shares. Mr. Smith made an additional $442,000 in shares sold from his 401(k) account.
• CFO Donald Grenesko took in nearly $3.9 million in selling about 114,000 shares. He still holds nearly 170,000 shares. Mr. Grenesko made an additional $610,000 in shares sold from his 401(k) account.