Evan Spiegel gave himself a $637M stock award - Rickey J. White, Jr. | RJW™
19676
post-template-default,single,single-post,postid-19676,single-format-standard,ajax_fade,page_not_loaded,,qode-theme-ver-16.3,qode-theme-bridge,wpb-js-composer js-comp-ver-5.4.7,vc_responsive
 

Evan Spiegel gave himself a $637M stock award

Evan Spiegel gave himself a $637M stock award

Snap released its Form 10-K, detailing the company’s financials for 2017. There’s a bunch to digest in the lengthy document, but one thing certainly sticks out: CEO Evan Spiegel’s compensation.

According to the tax form, Spiegel’s total compensation was $637,790,892. This includes a salary of $98,078, “other” compensation of $1,079,925, as well as a one-time stock award of $636,612,889. Compare this to 2016, when Spiegel’s entire compensation was only $2,404,840. (It’s also interesting to note that Tim Cook was awarded $378 million in stock awards when he first took Apple’s reins in 2011, which is paltry compared to Spiegel’s hearty stock compensation.)

Spiegel currently has 48.4% of the voting power over Snap, while cofounder Robert Murphy holds 47.4%. That leaves only 4.2% for everyone else. Spiegel’s voting power, combined with his over $600 million in compensation, does feel like a bit much. I’m sure investors have a lot to say about this. (If you are an investor, I’d love to hear from you!)


Source: Fast Company

Tags:
No Comments

Sorry, the comment form is closed at this time.