Avenue A’s Big Pay Day (With Charts!)

The staffers at Avenue A/Razorfish have being sharing the SEC filings for the Microsoft buy-out. They’re a little shocked. Especially at CEO Clark Kokich’s big pay day. We expected that management would make a killing off of the sale and Clark’s work is stellar, but the figures? They’re off. The. Hook. Meanwhile, staffers can’t even get the good benefits package.

Being the industrious little bees that we are, we decided to check out the SEC filings to see what all the hubbub was about. You can view the filing yourself here. Who says advertising doesn’t pay?

Cash-Out of Vested Options

The following table shows the total number of vested stock options held by our executive officers and all options held by directors, as of June 20, 2007 (with vesting assumed to continue, and projected, through August 9, 2007 and applying the vesting provisions of Mr. McAndrews’ employment agreement), that are expected to be cashed out in connection with and as a result of the merger (without considering the options set forth in the following section “Cash-Out of Equity Awards Whose Vesting is Accelerated With Consent of Microsoft”) and the amounts expected to be received by such individuals in connection with the cash-out of such options. All dollar amounts are gross amounts and do not reflect deductions for income taxes and other withholdings. The options have exercise prices ranging between $0.6667 and $33.22 per share.

Cash-Out Treatment of UnvestedEquity Awards Whose Vesting is Accelerated with Consent of Microsoft

The following table sets forth for each executive officer the expected number of unvested outstanding options as of August 9, 2007, with their current exercise price, whose vesting is expected to which will be accelerated, as consented to by Microsoft, as described below in “Interests of our Directors terminated and Executive Officers in the Merger — Merger and Post-Merger Vesting Acceleration” and that are expected to be cashed out as a result of the merger, and the amounts expected to be received by such individuals in connection substituted with the cash-out of such Microsoft options as described in “The Merger Agreement — Effect on aQuantive Stock Options and Restricted Stock.”