Marissa Mayer will get $186M golden parachute from Yahoo
27 April, 2017, 02:50 | Author: Elaine Woods
United States telco Verizon is in the final stages of securing its purchase of Yahoo and if shareholders vote to approve the deal on 8th June, Yahoo CEO Marissa Mayer may walk away with a $186 million payout.
She may have failed to turn around Yahoo's fortunes but CEO Marissa Mayer would leave the ship with her hands full, quite literally.
Her $186 million in Yahoo stock, stock options and restricted stock units are based on Monday's stock price of $48.15, according to data filed on Monday in the documents sent to shareholders about the Verizon deal.
Plus, there were security breaches where hackers compromised 1 billion user accounts, which left Yahoo in a worse state than when she joined.
Even afterwards, two very high profile data breaches, which occurred under Marissa Mayer, were not enough to shatter the Verizon deal.
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On June 8, Yahoo shareholders will vote on whether to sell off Yahoo's web assets to Verizon, a deal almost a year in the making, according to a proxy statement Yahoo filed with the S.E.C. on Monday. Mayer, along with other Yahoo execs, will receive accelerated vesting of all stock options and other equity awards under the terms of the Verizon sale. Mayer admitted that year the company had only started investing in mobile in 2013 and was "late" and "behind". Yahoo's stock price did triple during Mayer's tenure, though that increase was largely due to Yahoo's previous investments in Yahoo Japan and Alibaba, not the growing value of the company's core Web business.
If you're a 90's kid then you're aware of the importance of Yahoo in your life at one point in time.
Mayer reportedly wont be sticking around after the sale, despite having written a blog in which she detailed that she planned to stay. As a result, Yahoo's general counsel, Ronald Bell, resigned, and Mayer did not receive her 2016 cash bonus, which would have been as much as $2 million.
"People give Mayer a hard time because she was supposed to be some kind of product genius: 'She didn't create the next Snapchat inside Yahoo so she didn't succeed, '" Espelien said.
Mayer is leaving Yahoo with a market cap of about $46 Billion, which includes Altaba and what Verizon is buying without the liabilities of tax associated with these transactions.
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