My Guess On Sue Swenson’s Departure Date: June 18, 2011

Today’s announcement of Sage Software’s Sue Swenson’s “retirement” carried a somewhat vague “decided to retire and will leave the business in mid 2011” statement as to when she’d actually leave.

I’m going to go out on a limb and predict her actual departure date.

June 18, 2011.

The reason?

I thought I remembered  some stock options that would vest in future years.

Sure enough I dug into the Sage Investor Relations site and found the document here.

It seems to indicate that Sue Swenson was granted an award over 260,815 ordinary shares in The Sage Group plc under the Sage Group Performance Share Plan. No price is payable either on the grant or vesting of the award and the award will normally vest, subject to the satisfaction of performance conditions and continued employment, on 17 June 2011.

Looks as if Sue Swenson most likely sticks around through June 12, 2011 – the day after what appears to be a vesting date for these stock options.

I have an email into Sage UK to verify that the information is still current (more recent documents show Sue Swenson vests up to 407,734 shares though there is no indication of what the effective date would be).

Update December 2, 2010: I received a reply this morning from the Sage UK Investor Relations Team refusing to comment on the status of Sue Swenson’s stock options stating that they can only comment on information that is already public.

 

All part of my reasoning for calling this a reorganization more than a retirement.