Only a few short days after he leaves after one term as Missouri's governor, Matt Blunt, will take on a lucrative part-time job as a member of the board of directors of California salvage company Copart.
A filing Thursday with the Securities and Exchange Commission indicates Blunt will receive $50,000 annually in $12,500 quarterly payments:
Mr. Blunt will receive the standard compensation provided to our non-employee directors which consists of quarterly cash compensation of $12,500 for services as a director. In addition, under our 2007 Equity Incentive Plan, Mr. Blunt will be granted an option to purchase 20,000 shares of our common stock at the commencement of his service on our board of directors. This option will vest over two years, with one-half of the shares vesting on the first anniversary of the date of grant and the balance vesting on a monthly basis over the 12 months succeeding such first anniversary. In subsequent years, Mr. Blunt will be eligible to receive additional annual grants of options to purchase shares of common stock for his service on our board of directors. We will also reimburse Mr. Blunt for reasonable and necessary expenses incurred while attending board or committee meetings.
My guess is we will hear a lot in coming months about Blunt cashing in on numerous financial opportunities.
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