That arrangement reported by Reuters for the first time sheds new light on Eastman Kodak's handling of the unexpected windfall for its top executives.
As a result, Mr Continenza's gains at the end of this week amounted to about US$83 million following a roughly 10-fold increase in Eastman Kodak's stock, compared to the approximately US$53 million in gains he would have seen were it not for the additional options, according to a Reuters analysis of company filings.
A fourth expert, Robin Ferracone, chief executive of compensation consultant Farient Advisors, said the company may have offered the prospect of additional options to executives as they worked toward the convertible bond offering - to avoid them being"disincentivised" to seal a deal that would help the firm but potentially water down their holdings.
The company's market capitalisation jumped from a little over US$100 million at the start of the week to almost US$1 billion by Friday following the deal.
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