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Pathmark Deal to Trigger A&P Stock Bonuses

The closing of the pending deal to acquire Pathmark will trigger several stock-based awards to executives of A&P, the company said in a government filing last week.

MONTVALE, N.J. — The closing of the pending deal to acquire Pathmark will trigger several stock-based awards to executives of A&P here, the company said in a government filing last week. The compensation and governance committees of A&P’s board of directors said the completion of the Pathmark deal will meet goals of a 2005 turnaround incentive plan, resulting in grants of restricted stock units to executives to vest on the first day of A&P’s 2008 and 2009 fiscal years. In addition, A&P said the first third of restricted stock units related to a 2006 long-term incentive plan will vest in or around May 2009. A&P officers can also receive restricted stock units as part of an integration incentive plan, the company added. The acquisition, announced in March and scheduled to close late this year, is currently under investigation by the Federal Trade Commission for possible antitrust implications.

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