Date: December 28, 2005
Source: News Room
Republic Services Inc.'s board of directors has approved accelerating the vesting of all outstanding stock options awarded to employees effective Dec. 30, 2005. The company will take non-cash charge of about $2 million during the fourth quarter of 2005 as a result. Republic took the action anticipating changes to its compensation programs in 2006. The move is expected to reduce the pretax stock option expense the company would have incurred by an estimated $7 million in 2006, $3 million in 2007, and $1 million in 2008.
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