Word that Yahoo CEO Marissa Mayer could pocket up to $186 million from the company's sale to Verizon Communications cements the charmed nature of her five-year tenure at the company's helm.
The money, detailed in a 429-page document sent to shareholders, includes the value of shares already owned, outstanding share options, a "golden parachute" payment, cash payments and medical benefits.
At the time, Mayer's payout after the Verizon sale is complete was pegged at $55 million by the company.
For Ms. Mayer, that includes stock options valued at more than $85 million and Yahoo shares valued at almost $77 million at Tuesday's closing share price of $48.40, according to the information in the filing.
Mayer has a total of 4.5 million shares of Yahoo stock and options, plus restricted stock that will vest when the Verizon deal goes through, according to a filing on Monday.
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Mayer was denied bonus for previous year after hackers compromised 1 billion user accounts. Yahoo's board laid responsibility for the 2014 hack on Mayer, because senior company executives knew it happened in 2014 but failed to properly investigate it.
Yahoo said in its filing that Altaba is more likely to sell its Yahoo Japan stock than sell its Alibaba shares, but it gave no further details. Mayer admitted that year the company had only started investing in mobile in 2013 and was "late" and "behind".
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 was even stripped off her annual bonus after these security breaches. And though reports have pointed to her exit, Mayer has said only that "for me personally, I'm planning to stay".
When Yahoo! boss Marissa Mayer leaves the merged Verizon-AOL-Yahoo! behemoth, as is expected soon, she'll walk away with stocks and cash today worth $186m. Verizon plans to buy Yahoo's core business, which Marissa Mayer was not able to build again.
If it had been a Wall Street hot shot that had come in and revived Yahoo's faltering stock and presided over a multibillion-dollar sale, that person wouldn't be begrudged a final payout of more than $100 million, Espelien suggested.