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Microsoft discloses loan to executive

Time: 09:31 EST/14:31 GMT | News Source: News.com | Posted By: Byron Hinson

Microsoft gave a loan now worth $13.1 million to an executive in order to lure him away from an investment banking job, the company disclosed in a regulatory filing. In a proxy filed with the Securities and Exchange Commission Thursday, Microsoft stated that it had given Richard Emerson, a senior vice president for corporate development, a loan of $12 million when he was hired in November 2000. The loan was an advance against the value of stock options he received.

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