Recall that -- during the pendency of the negotiations surrounding the Sch-MERCK transaction -- CEO Fred Hassan, and his top officers, just received between $3.4 million and $1 million, each, in deferred stock units, on February 27, 2009. Recall also that CEO Hassan will receive an additional $60 to $72 million, if he keeps his word, and walks away, when the deal closes.
Gee -- I guess that "just isn't enough", according to Fred's peculiar sense of entitlement. Last night, he reported an ADDITIONAL $4.74 million in deferred stock units, granted April 1, 2009. So, by my lights, he now stands to get something north of $78 million -- at deal close. And at least $35 million of that will be cash (in part, by receiving $10.50, at close, for every share of Schering-Plough he controls -- all of which vest, on a "change of control") -- no questions asked. 
In the interest of complete reporting, I should note that last night, Messrs. Bertolini, Cheeley, Koehler, Koestler (who garnered a big bump of 250,000 shares, in October 2008!), Kohan, Saunders, Sabatino (who already received an unscheduled $500,000, in cash in December 2008 -- about four months ago!), and Ms. Cox each received between $1.6 million, and $0.6 million, in deferred stock units. All in, it's north of $10 million, in April alone.
[In passing, I'll note that each of Messrs. Bertolini, Cheeley, Kohan, Saunders, Sabatino, and Ms. Cox received between $1 million, and $1.2 million worth of similar phantom units, on February 27, 2009, as well. Those February 2009 grants were about $9 million, all in.]
This is simply appalling, given all the talk of belt-tightening (at both companies); and the closing of an Irish facility, and the layoff of 240 ordinary Irish Animal Health employees in County Wicklow, earlier this week:
. . . .Pharmaceutical company Schering-Plough has announced it plans to close its operation in Bray, County Wicklow, Ireland. . . . which employs 240 people in Bray. . . .
It surely does seem true, this morning, that "some pigs are. . . more equal."
Truly disgusting.
