James Cayne, chairman of Bear Stearns, is due to receive $4.6m (â¬2.9m) after selling more than $61m (â¬39m) of Bear shares last month just one day after JP Morgan Chase raised its offer for the stricken investment bank.
In return for their restricted stock units and the shares they held in the bankâs capital accumulation plan, Bear Stearnsâ executives and board members will receive an equivalent number of JP Morgan shares.
