(Bloomberg) Life after politics is working out just fine for John Boehner.
The ex-U.S. House speaker is poised to collect $1.59 million in cash once shareholders approve Canopy Growth Corp.’s acquisition of Acreage Holdings Inc., regulatory filings show. If his former colleagues in Congress help make marijuana federally legal, he’d be eligible to receive Canopy shares worth about $16 million as of Thursday’s market close in exchange for his stake in Acreage.
Boehner, who left Congress in 2015, was appointed to Acreage’s board last year. He currently holds 625,000 shares in the New York-based cannabis company, some of which still haven’t vested. Restricted shares granted as compensation typically vest ahead of schedule in cases of a merger.