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Infoseek CEO wins big on options

The search engine company's chief executive snagged 1 million options last year, according to a Securities and Exchange Commission filing.

Infoseek chief executive Harry Motro snagged 1 million options last year, according to a Securities and Exchange Commission filing today.

Motro, who joined the company during the second quarter last year, was granted the options with a strike price of $5 a share.

Infoseek's share price has been on a rocket ride since January, increasing threefold as Net stocks gained favor with investors. Infoseek closed at 33.5 today, down 0.13 over yesterday. .

Infoseek expects Motro's options to be worth $3.1 million, based on a 5 percent potential realizable value of the stock's appreciation. The options, which vest over time, expire in 2007.

Motro received $169,551 in salary and a bonus of $69,230 last year. He also received compensation of $150,000 for moving expenses.

Infoseek has shrunk its losses over the last three consecutive quarters, and has continued on its path of revenue growth.

The company reported a loss of $1.5 million for the March quarter, compared with a loss of $4.1 million reported for the same quarter a year ago. Revenues rose to $14.3 million during the quarter, up from $6.2 million a year ago.

An investor who sunk $100 into Infoseek in 1996 would find it worth $76.79 as of December 31, 1997. Contrast that to the Nasdaq index, which would have brought $127.59 for the same amount during that period.