I wish my stocks were doing this good. Really, I need to hire Cheney as my broker!
All of Vice President's Cheney's stock options are "in the money" for the first time in years. According to the Vice President's Federal Financial Disclosure forms, he holds the following Halliburton stock options:
100,000 shares at $54.5000 (vested), expire 12-03-07 33,333 shares at $28.1250 (vested), expire 12-02-08 300,000 shares at $39.5000 (vested), expire 12-02-09
The Vice President has attempted to fend off criticism by signing an agreement to donate the after-tax profits from these stock options to charities of his choice, and his lawyer has said he will not take any tax deduction for the donations. Valued at over $9 million, the Vice President could exercise his stock options for a substantial windfall, benefiting not only his designated charities, but also providing Halliburton with a tax deduction.
The Vice President also continues to receive "deferred salary" from Halliburton. While in office, he has received the following salary payments from Halliburton:
Deferred salary paid by Halliburton to Vice President Cheney in 2001: $205,298
Deferred salary paid by Halliburton to Vice President Cheney in 2002: $162,392
Deferred salary paid by Halliburton to Vice President Cheney in 2003: $178,437
Deferred salary paid by Halliburton to Vice President Cheney in 2004: $194,852
In September 2003, the Congressional Research Service (CRS) issued a memorandum to Senator Lautenberg concluding that holding stock options while in elective office does constitute a "financial interest" regardless of whether the holder of the options will donate proceeds to charities. CRS also found that receiving deferred compensation is a financial interest.
Interested in that report? Click here. (It's a PDF, by the way.)