Timeline of NC Gov McCrory's payouts from Tree.com
Posted December 17, 2014
Updated December 18, 2014
Timeline of North Carolina Gov. Pat McCrory's payouts from Tree.com:
—January 4, 2013: McCrory files notice of resignation from board of Tree.com, with an effective date of Jan. 31.
—January 5, 2013: McCrory sworn in as governor.
—January 30, 2013: Tree.com board votes to accelerate vesting of McCrory's remaining 10,063 shares of restricted stock units, converting them to common shares with a cash value on that date of $171,071.
—March 18, 2013: McCrory appoints Ray Grace as acting Commissioner of Banks. The staff he supervises has regulatory oversight over mortgage brokers such as Tree.com's subsidiary LendingTree.
—April 12, 2013: McCrory paid $10,063 a special dividend by Tree.com, $1 a share for each restricted stock unit owned at end of 2012. At some point in 2013, he is also paid $4,375 in director's fees, bringing his total cash compensation from Tree.com for the year to $14,438.
—April 15, 2013: McCrory files ethics disclosure form covering 2012. He doesn't disclose his "business association" with Tree.com for 2012 or the potential conflict of interest created by the state's regulatory oversight of the company.
—April 30, 2013: McCrory appoints eight members to state Banking Commission. His appointees now make up a majority of the 14-member board.
—April 15, 2014: McCrory files his ethics disclosure form for 2013. McCrory does not disclose the $14,438 in director's fees and cash dividends he received from Tree.com in 2013. The ethics form instructs officials to disclose all sources of income of more than $5,000, including any salary, wages, professional fees and dividends.
—December 17, 2014: McCrory denies any wrongdoing, saying he fully complied with the law.