Here's The Math That Shows How Henrique De Castro Walks Away From Yahoo With $109 Million
Executive compensation firm Equilar estimates he's getting $109 million now that he's been fired by Marissa Mayer.
That's a lot of money for just 15 months of work. That's more than most people get for building and selling a startup. That's more money than the highest paid athlete in the world, Tiger Woods, made last year. Woods got $83 million.
How is he getting so much money? Equilar broke it down for us:
While working at Yahoo he received the following:
- Salary of $684,092
- Bonus of $640,000 (includes estimated target bonus payout for 2013 of $540,000)
- Make-Whole bonus of $1,000,000
- Value of vested portion of performance option award: $20,973,716
- Value of vested portion of initial RSU award: $10,610,293
- Value of vested portion of make-whole RSU award: $10,882,349
Total Value Earned: $44,790,450
Upon his termination, a portion of each of his equity award vested as well (all values using yesterday's closing stock price of $41.07):
- Severance payments (1x salary and target bonus): $1,140,000
- Value of accelerated performance option award: $20,973,716
- Value of accelerated initial RSU award: $9,794,117
- Value of accelerated make-whole RSU award: $32,647,046
- Total accelerated equity value: $64,554,879
The sum total of both amounts is $109,345,330.
Equilar's director of Governance Research, Aaron Boyd tells us this based on the assumption De Castro was fired without cause. Boyd thinks it's a "safe bet" that he was fired without cause based on the language Mayer used in her memo announce his ouster.