Discover Financial Services (NYSE:DFS) has announced the approval of restricted stock unit awards aimed at retaining key executives.
John T. Greene, Executive Vice President and CFO, received an award valued at $1,000,000 designed to ensure his continued engagement with the company's growth initiatives.
This incentive includes a vesting schedule tied to specific future achievements related to the Discover Student Loan portfolio.
Additionally, in recognition of his service as Interim Chief Executive Officer and President, John B. Owen was granted both restricted stock units and a cash award.
These awards, amounting to $1,600,000 and $500,000, respectively, are contingent upon his continued service until a permanent CEO and President are appointed, with the stock units vesting over three years.
This strategic move by Discover aims to maintain leadership stability and incentivize the successful execution of key company objectives.