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Non-Tech : Cendant Corporation (NYSE:CD) -- Ignore unavailable to you. Want to Upgrade?

To: Sarkie who wrote (3495)	2/7/2000 6:08:00 PM
From: Sarkie	Respond to of 3627

News February 04, 18:25 Eastern Time Cendant CEO completes share-ownership commitment NEW YORK, Feb 4 (Reuters) - Franchising giant Cendant Corp. on Friday said its chairman, president and chief executive had fulfilled a commitment to own 1.5 million of the company's common stock outright. Henry Silverman, who previously owned 300,000 shares, exercised three million options granted in 1991 and sold 1.8 million common shares, boosting his ownership by a net 1.2 million shares. "All of our senior managers have been asked to achieve meaningful levels of direct stock ownership over time," he said in a statement released by the company. "This further aligns my interests with those of our shareholders." After the transaction, Silverman holds about 7 million additional options scheduled to expire in 2001, the company said. In addition, he holds about 36 million Cendant stock options that expire in 2002 through 2010. Shares of Cendant closed up 5/16 at 21-5/16, off a 52-week high of 26-15/16, up from a low of 13-11/16. (( -- New York Newsdesk, (212) 859-1719))