NEWS WATCH: SAFEWAY AWARDS STOCK OPTIONS TO TOP EXECUTIVES...GIANT EAGLE LAYS OFF 115 NON-STORE EMPLOYEES...PENN TRAFFIC RECEIVES REORGANIZATION PLAN EXTENSION

SAFEWAY AWARDS STOCK OPTIONS TO TOP EXECUTIVESortedly given millions of dollars in stock grants and options to 11 senior executives in an effort to retain their services. Industry sources said all 11 executives received a total of 672,865 shares of stock options at a strike price of $20.15, which is 12% below the current trading prices. They can exercise 20% of their options each year for the next

SAFEWAY AWARDS STOCK OPTIONS TO TOP EXECUTIVES

ortedly given millions of dollars in stock grants and options to 11 senior executives in an effort to retain their services. Industry sources said all 11 executives received a total of 672,865 shares of stock options at a strike price of $20.15, which is 12% below the current trading prices. They can exercise 20% of their options each year for the next five years, according to reports. In addition, eight of the 11 executives received

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