Press Release: Cendant Corporation
January 11, 2002
NEW YORK, NY -- Cendant Corporation (NYSE: CD) yesterday reiterated that its Chairman, President and CEO, Henry
R. Silverman, had increased his ownership of Cendant common stock to 8 million shares from 6.85 million shares
in October 2001.
In October 2001, Mr. Silverman exercised 3.5 million options, sold 2.35 million of the underlying shares and used
the proceeds to retain 1.15 million shares and pay the exercise price and taxes.
The Company has issued this press release to clarify an earlier news wire report that Mr. Silverman filed a form
144 to sell 2.35 million shares on January 7, 2002. The Form 144 was actually filed in October 2001 and relates
to the transaction described in the preceding paragraph whereby Mr. Silverman increased his ownership of Cendant
common stock to 8 million shares.
About Cendant
Cendant Corporation is primarily a provider of travel and residential real estate services. With approximately
60,000 employees, New York City-based Cendant provides these services to businesses and consumers in over 100 countries.
SOURCE: Cendant Corporation