Zayo CEO pulls in $75.93M from stock sale

BOULDER  — Zayo Group Holdings Inc. (NYSE: ZAYO) CEO Dan Caruso made $75.93 million from stock sales last week, more than 10 times what he made the previous year at the helm of the company.

Caruso sold 2.25 million of his shares of the Boulder IT infrastructure company and stock held by companies he owns at $33.75 per share, according to disclosures filed Friday with the U.S. Securities and Exchange Commission. The combined sales amount to just under 1 percent of the company’s outstanding shares.

Caruso made just more than $7.33 million in fiscal year 2018 between salary and stock awards, according to the company’s latest definitive proxy statement to shareholders.

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Zayo’s pending $14.3 billion acquisition to two private investment firms sets the sales price to shareholders at $35 per share upon the deal’s closing, which is expected in the first half of 2020. The company’s shareholders already approved the deal, which would give Caruso a $22.2 million golden parachute split in equity, unused corporate jet expenses and six months of health-care benefits after the deal’s close.