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Tyco grants Breen 120,000 restricted shares

(Bloomberg) ? Bermuda-based Tyco International Ltd., the world?s biggest provider of security systems, gave chief executive officer Edward Breen 120,000 restricted shares as an incentive to improve the company?s stock performance.

The shares will vest in three years, assuming the achievement of targets related to organic sales growth and return on invested capital, Bermuda-based Tyco said yesterday in a filing with the US Securities and Exchange Commission.

Breen, under pressure from investors to lift Tyco?s stock price, said on November 16 that the board of directors is considering splitting up the company. It also may speed up share repurchases and raise the dividend. Tyco shares have fallen 18 percent this year amid higher commodity costs and slow growth in businesses such as electronics.,