
Michael Nagle / Bloomberg through Getty Photos
Key Takeaways
- Uncover Monetary Providers shares paced the S&P 500 Monday on phrase interim CEO J. Michael Shepherd has agreed to remain on by the completion of Capital One Monetary's buy of the bank card supplier.
- Final week, Shepherd and Uncover agreed on a contract that might pay him as a lot as $5.65 million by June 30.
- Uncover agreed in February 2024 to be bought by Capital One for $35.3 billion.
Uncover Monetary Providers (DFS) inventory paced the S&P 500 throughout a principally down day for equities markets Monday as traders continued to take a optimistic view of final week’s announcement about its management state of affairs.
Shares have been up 5.5% in current buying and selling on phrase the bank card supplier and J. Michael Shepherd had agreed for the interim CEO to stay on the job till rival Capital One Monetary (COF) completes its deliberate buy of Uncover Monetary.
The $35.3 billion deal was hammered out in February 2024 and is anticipated to shut quickly. The contract with Shepherd pays him a base wage of $1.75 million in April, and $750,000 for Could and June. If the transaction is finalized earlier than June 30, he’ll get an extra $2.4 million as a bonus.
Shares of Uncover Monetary Providers have climbed practically 30% within the final 12 months.
:max_bytes(150000):strip_icc()/DFS_2025-03-31_10-52-44-6a6752d4dab54486951e60c4ec1c0213.png)
TradingView