That’s the amount he’s entitled to receive if BlackBerry has a
change of control and Heins is pushed out by the new owners, according to a May
proxy filing. The figure, which includes salary, incentive payments and equity
awards, is based on BlackBerry’s stock price at the end of the fiscal fourth
quarter. The plan was approved by shareholders at bits annual meeting on July 9.
Shares of BlackBerry have surged 19 percent in the past week on speculation
that the struggling Canadian smartphone maker will be bought, broken up or
taken private, bringing a windfall to investors. The Waterloo, Ontario-based
company announced plans on Aug. 12 to form a board committee to consider a
potential sale, as well as joint ventures and partnerships.
The board probably shouldn’t have
created an exit package that offers so much money for selling the company, said
Sameet Kanade, an analyst at Jacob Securities Inc. in Toronto
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