Home Depot’s internal review found about $10 million of unrecorded stock option expense. ![]() In as many as five instances prior to December 2000, directors retroactively approved stock option grants to executives. Inquires about Home Depot’s stock options began in June of 2006 by the Securities and Exchange Commission. These grants were made in violation of Home Depot’s stock option plan. Additionally, the AFL-CIO is urging the resignation of co-founder and director Ken Langone, who oversaw the improper stock option grants from 1999 to 2000. In a formal letter to Home Depot’s Compensation Committee Chair, the AFL-CIO asked the company to take necessary measures to recover any improper stock option grants to executive directors. His severance package was valued at $210 million, including stock options. ![]() Nardelli was subject to intense criticism over his compensation package, which many shareholders thought was too large given the weak performance of Home Depot's stock. Home Depot CEO, Robert Nardelli, resigned in January 2007 after six years in the top spot at the company. In fiscal 2006 the company reported revenues of more than $81.511 billion. ![]() Based in Atlanta, Home Depot employs over 345,000 people. Home Depot operates a chain of more than 2,000 retail stores that sell lumber and other building materials as well as house furnishings, tools and garden supplies in the US, Canada and Latin America.
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