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Charles Schwab exercises stock options, receives $48M

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April 25, 2008

SAN FRANCISCO—Charles R. Schwab, chairman and chief executive of discount broker Charles R. Schwab Corp., received $48 million exercising options on 3.3 million company shares and then selling them.

The shares represent less than 1.6 percent of Schwab's holdings in the brokerage. After the sale, Schwab holds about an 18 percent stake in the company.

The company granted Schwab 700,000 shares in 1998 as long-term incentive compensation. There were three stock splits over the vesting and exercise period.

The options were set to expire on May 11.

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