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Every shareholder got their money at the buyout price: $54.20 per share.
by bern4444 3y ago
Every shareholder got their money at the buyout price: $54.20 per share.
- hn_throwaway_99 3y agoThat's not what the parent comment was referring to. Senior execs had golden parachutes they were due if they were terminated.
- DonHopkins 3y agoWhy don't the people who actually do the work get golden parachutes?
- Uvix 3y agoBecause they don’t negotiate for it.
- replyifuagree 3y ago[flagged]
- jonathankoren 3y agoWe’re not even talking about golden parachutes. Literally every employee had a severance package specified and agreed to in the sales contract. Musk straight up violated the agreement the first week. The amount is negligible to the world’s richest man. He just violated it because he could. http://www.businesstoday.in/technology/news/story/elon-musk-accused-of-not-paying-500-million-in-severance-pay-to-ex-twitter-employees-gets-sued-389529-2023-07-13 http://www.businesstoday.in/technology/news/story/elon-musk-...
- hn_throwaway_99 3y agoI was referring to the GP argument that was specifically asking about exec payouts, not the broader point of the article that Musk is just stiffing these people just because he can.
- jurassic 3y agoThe parent post is referring to the "golden parachute" execs are entitled to when fired by new ownership in situations like this. This is different from getting the $54.20 for shareholders. The purpose of these payments are to help align the incentives of leadership with shareholders so they cooperate in getting these complex deals closed. I also haven't heard any updates.