Can Pagliuca Run From the Burger King While He’s Still an Owner?

Will Stephen Pagliuca’s resignation from the Burger King board of directors separate him from unhealthy food and sexist commercials in voters’ eyes, despite his still owning stock? I am no expert in deciphering SEC forms. But as a layman it looks to me like Paliuca’s Sept. 23 SEC filing shows him to own 17 thousand shares of BK stock (now selling for about $17 each). That ~$300,000 may not be whopper sized for Pagliuca’s palate, but to most voters, it’s a lot.

[Apparently, as of his board resignation, Pagliuca's no longer the "beneficial owner" of the 13.6 million shares reported for him on page 39 of last year's BK proxy statement. Who's the "beneficial owner" of those shares now? Some other Bain guy? And does Pagliuca make money off of those shares either now or when his leave of absence from Bain is over? Beats me. Maybe someone who's a finance whiz can 'splain that one to me -- and to the rest of the average voters.]

In any case, the implications of a large BK owner in the senate are worth considering. Some folks observe the irony of a burger-selling senator casting votes on healthcare issues. I’m more concerned with the irony of a senator who’s OK with using women’s butts to sell burgers casting votes on equal-pay or violence-against-women initiatives.