Update: Ousted HP CEO Walks Away With Millions


UPDATE: Sept. 30 4:00 p.m.
Hewlett-Packard stock lost 5.59 percent of its value at the closing bell of the New York Stock Exchange, closing down $1.33 to $22.45. HP traded as high as $48 in February.

ORIGINAL POST: Sept. 30 11:00 a.m.
Ousted Hewlett-Packard CEO Leo Apotheker shouldn't feel too bad. He will receive a severance payment of $7.2 million, according to a regulatory filing.

According to the filing, Apotheker receives accelerated vesting of stock worth $3.56 million and 424,000 additional stock units awarded to him under the terms of his original employment agreement. Apotheker will also receive a bonus of $2.4 million, relocation expenses and air travel for him and his wife to return to France or Belgium, where they own residences. His dependents will receive medical and dental care for 18 months, as well.

Meg Whitman, the former Ebay CEO who has taken over HP, will receive a base salary of $1 per share and options to purchase up to 1.9 million shares of HP stock. She will also receive an annual bonus of $2.4 million, eligible to be increased to $6 million.

HP stock is trading down today, losing nearly 3 percent, to $23.08 a share.