(WGN-AM)- U.S. Sen. Roland Burris (D-Ill.) failed to reveal in a Senate financial disclosure statement that he has options to buy 8,000 shares of stock in a real estate investment company where he was a board member, according to public records.
The disclosure statement, recently made public, indicated Burris and his wife held $900,000 to $1.8 million in assets, but failed to note their options to buy stock in Oak Brook-based Inland Real Estate Corp.
"You are absolutely right. His unexercised options were not disclosed," said Jim O'Connor, Burris' communications director.
Burris can buy the stock at prices ranging from $9 a share to about $20 a share, according to Inland's federal securities filings. The senator is unlikely to exercise those options any time soon -- Inland stock closed at $6.72 on Wednesday, below Burris' $9 option price. The couple already owned 8,430 Inland shares worth about $109,000 at the end of 2008.
Burris served on Inland's board from 1996 until Jan. 15, stepping down after his controversial appointment to the Senate by then-Gov. Rod Blagojevich. He received $63,000 in director fees and dividends from Inland last year.
(The Chicago Tribune contributed to this story)
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Burris Financial Release Missing Stock Options
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