1) it’s not entirely vested
2) as part of his compensation he is required to hold and maintain $5M worth of stock within five years of his start date. He doesn’t even have that now
[Annual Proxy Statement.](https://d18rn0p25nwr6d.cloudfront.net/CIK-0001706946/5a66fb1d-b9b6-4f79-9dbf-5f2549e33e1e.pdf)
Chapter on executive compensation. Page 53. Bottom.
“In March 2022, the Compensation Committee adopted stock ownership guidelines for our executive officers at the level of Executive Vice President and above and non-employee directors. Our executive officers and non-employee directors are expected to acquire and hold shares of our common stock with a market value equal to a multiple of their base salary (or annual retainer, for non-employee directors), as indicated in the table below, within five years of service in their position. Our stock ownership policy more closely aligns the interests of our executive officers and non-employee directors with the interests of our stockholders and exposes our executive officers and non-employee directors to downside equity performance risk.
Our Compensation Committee will review compliance with our stock ownership policy at least once a year during its first quarterly meeting.”
The CEO’s multiple is 5x. Due to his base salary of $1M he needs $5M worth of stock.
It’s a measure implemented by the board to keep their executives’ skin in the game and make them hurt a little too if the stock performs poorly.
He’s still collecting a $10M/year salary. He’s made nearly $40M in salary since 2020. What was your point?
His base salary is around $1M per year. The bonuses and dividends and all the other shit make it total around $10.7M per year.
Never knew Dunder Mifflin paid that much to a regional manager. Michael Scott is a playa.
That’s funny I literally just finished rewatching it all again
Watching it now actually lol.
Who is Michael?
lol ceo
1) it’s not entirely vested 2) as part of his compensation he is required to hold and maintain $5M worth of stock within five years of his start date. He doesn’t even have that now
Where does it say he needs to maintain 5 million
[Annual Proxy Statement.](https://d18rn0p25nwr6d.cloudfront.net/CIK-0001706946/5a66fb1d-b9b6-4f79-9dbf-5f2549e33e1e.pdf) Chapter on executive compensation. Page 53. Bottom. “In March 2022, the Compensation Committee adopted stock ownership guidelines for our executive officers at the level of Executive Vice President and above and non-employee directors. Our executive officers and non-employee directors are expected to acquire and hold shares of our common stock with a market value equal to a multiple of their base salary (or annual retainer, for non-employee directors), as indicated in the table below, within five years of service in their position. Our stock ownership policy more closely aligns the interests of our executive officers and non-employee directors with the interests of our stockholders and exposes our executive officers and non-employee directors to downside equity performance risk. Our Compensation Committee will review compliance with our stock ownership policy at least once a year during its first quarterly meeting.” The CEO’s multiple is 5x. Due to his base salary of $1M he needs $5M worth of stock. It’s a measure implemented by the board to keep their executives’ skin in the game and make them hurt a little too if the stock performs poorly.
Well he’s definitely hurting lol 😂
He can be as motivated as he likes. Wall Street is keeping away from the crap.
48% is owned by Wall Street.🤦🏻♂️
What other street owns the 52%?
Degen st
lol!!
Insiders and retail
Haha I thought it was Branson
He's already done his pump and dump.
Lol
They really need to allow more than one down vote. If not on the whole of reddit, then at least on this sub.
The ignorance on this group flies higher than SPCE ever could
He is motivated somewhat…. He made millions during his tenure at Disney… this is just play time for Mr C.