733
Reddit Files to Go Public, Reveals That It Paid CEO $193 Million Last Year
(www.thedailybeast.com)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 23 Feb 2024
733 points (98.5% liked)
Technology
59562 readers
2266 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
Looking it up, almost all of it is from stocks. Not sure how it works exactly, is that new stock he got or was it from his existing stock?
If the company is going public it doesn't really matter, they can just sell the stock.
Employees usually can't just sell their stock whenever they want, especially at the C level. They have scheduled sales because they always have material knowledge about the company that would lead to insider trading.
Regular employees will have long vesting schedules (often backdated to their start date if they worked there while it was private), and often can't sell in certain blackout periods.
But the fines are usually peanuts compared to the profits, so chances are the pigboy is going to sell.
The way that article is written is a little vague, but it sounds like that is how much cash and stock he received just last year - independent of any gain he received from the value of his existing stock going up.