5 ms·
> Tricking the coinbase execs into giving him one of the highest paying packages for any product exec in history The money was primarily generated from stock a
by jxf 4y ago
> Tricking the coinbase execs into giving him one of the highest paying packages for any product exec in history
The money was primarily generated from stock and options sales, not salary. If anything, it would be institutional investors who financed this. The fact that he happened to be on a Rule 10b5-1 plan further cements this; he didn't even control the timing of the sales.
- loeg 4y agoGP carefully said "package," not salary. Package includes stock compensation.
- jxf 4y agoWhat I mean to say is that compensation is typically negotiated as a _number of shares_, not as a dollar value. The fact that outside investors wanted to pay a surprisingly high amount for those shares is on them. If your company says "we're going to pay you $400,000 and a commemorative water bottle", it's hardly fleecing the company if someone else wants to pay $40M for the water bottle.