ATLANTA – Peter Kight, the founder and CEO of CheckFree Corp. should have a very merry Christmas, bringing home as much as $225 million from the sale of the electronic payments provider to Fiserv.
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As part of the $4.4 billion takeover by Fiserv, Kight received about $210 million for his 4.3 million CheckFree shares, and as much as $15 million for outstanding options, according to filings with the Securities and Exchange Commission.
Kight, who will become a senior vice president with Fiserv, also exchanged 91,319 of his restricted CheckFree shares for 85,678 restricted Fiserv shares worth almost $5 million, at yesterday’s $53.76 closing price for Fiserv on the Nasdaq.
