The chief executive officer of Performance Sports Group Ltd. is swapping his initial grant of stock units and options for cash at a time when the sporting goods company’s financial status is uncertain and its accounting practices are under review.
Harlen Kent, who became CEO of PSG on June 20, has had his annual base salary doubled to $1.5-million (U.S.) from $750,000 instead of receiving the stock-based compensation that was originally agreed upon, according to a regulatory filing PSG made on Thursday with the U.S. Securities and Exchange Commission.
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