Reddit Files to Go Public, Reveals That It Paid CEO $193 Million Last Year::Nineteen years since its founding, the social media site is finally going public.
Reddit Files to Go Public, Reveals That It Paid CEO $193 Million Last Year::Nineteen years since its founding, the social media site is finally going public.
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.
It’s a private company still, they don’t actually have stock