Eastman Kodak handed five former executives stock worth millions of dollars this July in exchange for options they did not own, raising questions about the company’s controls just months after a proposed $765m loan from the Trump administration put it in the limelight. The company said internal “deficiencies” allowed five former officers and employees to exercise 300,000 options they had previously forfeited, according to a filing with the Securities and Exchange Commission. Kodak said it took a $5.1m expense in the third quarter related to the options.

Former Kodak executives given millions in stock for options they did not own | Financial Times