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Sun's Schwartz gets 1 million stock options

Jonathan Schwartz, Sun Microsystems' newly appointed president and chief operating officer, has been awarded 1 million stock options over five years.

Jonathan Schwartz, Sun Microsystems' newly appointed president and chief operating officer, has been awarded 1 million stock options over five years, the server maker said in a regulatory filing on Wednesday. The options, with a purchase price of $3.90, vest in 200,000-share batches over each of the next five years, beginning April 30, 2005.

Schwartz previously led Sun's software group and is now bringing some of his sales and marketing philosophy to the company's server products as well. Under Schwartz's orders, Sun in April reassigned several top executives.