Intrado’s top executive, George Heinrichs, stands to become a multimillionaire if the Longmont-based 911 emergency software company he co-founded is sold to call center company West Corp. in Omaha.
Heinrichs could make about $11.8 million from common stock he holds. He also owns stock options that he could exercise as part of the $465 million buyout deal announced Monday.
Those amounts are based on West Corp.’s stated buy price of $26 per share and information from Intrado’s 2005 annual report. The sale is expected to close before July 1.
Co-founder Stephen Meer, Intrado’s chief technology officer, could make about $5.1 million from common stock he owns. He also holds stock options.
The two and other top executives are expected to continue to run the company after it is sold, said David Whitten, senior vice president of corporate development and strategy.
“West made it very clear that the value that they see (comes from) contributions from employees and the senior management team,” Whitten said. “The new company continues to have their expertise. There’s no intention for anyone to leave.”
Directors will reap windfalls of $112,000 to more than $3.5 million, based on January stock holding filings with the Securities and Exchange Commission.
Intrado is expected to continue to grow as more customers nationwide use cellphones and make calls through the Internet.
A dissident shareholder group, led by Walt Disney nephew Roy Disney, threatened to sue the company last fall over a list of demands, including a buyback of $40 million in stock to increase its price and another to have seats on the board.
A spokesman for Disney’s Shamrock Activist Value Fund in California said it has a 7 percent stake in Intrado, which would translate to about $35 million in the sale. At least three other institutional investors are expected to gain similar profits.
Staff writer Beth Potter can be reached at 303-820-1503 or bpotter@denverpost.com.
