Edgar's golden parachute

GERONIMO! Edgar Bronfman is set for a $21.7 million payday—including a $16.8 million "golden parachute"—as a result of the company's pending $3.3 billion sale to Len Blavatnik, the N.Y. Post reports. The parachute consists of unvested stock options and restricted stock valued at $3.3 million and $13.6 million, respectively, which will vest as a result of the proposed sale. Bronfman will also pocket $4.88 million in vested stock options, which, along with the $3.3 million in unvested options, will net him $8.1 million in stock-option pay. Whoa. On July 6, shareholders will vote on Bronfman's $16.8 million parachute and a similar $10 million payout to Lyor Cohen. (6/15a)