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When I accepted my offer at Post Grad Problems, it was based on the understanding that I could wear Patagonia Baggies to work every day, they had catered lunches every Friday, and I’d get a bunch of Twitter followers. I was cool with that, until I saw some recent documents coming out of Yahoo’s camp.
Yahoo filed a bunch of documents with the SEC yesterday, one of which being the employment offer they sent to Lisa Utzschneider, the former Amazon Senior Vice President of Sales who now resides as Yahoo’s Chief Revenue Officer (and probably the most influential woman in advertising). The letter was sent in an attempt to steal Utzschneider away from Amazon by making her an offer she couldn’t refuse, and it apparently worked.
Per Business Insider, the offer letter (which can be read in full on the SEC’s website) included the following:
A $1 million sign-on bonus, made payable on or before her third semi-monthly paycheck.
A base salary of $50,000 a month ($600,000 annually).
A recommended restricted stock-unit grant with a total target valuation of $16 million. Half of the restricted stock units were subject to a four-year time-based vesting schedule — with a quarter paid on the 12-month anniversary of her start date, then 1/48 thereafter. The other half would vest based on the four-year schedule and “satisfaction of performance criteria” approved by the committee.
Yahoo’s bonus incentive plan, with a target incentive of 90% of her annual salary. This was pro-rated based on the period of time she was employed at Yahoo.
20 days of vacation in her first year of employment.
In the event of Utzschneider’s voluntary resignation within the first year following her start date, she would have to repay an amount equal to $83,333 multiplied by 12 minus the number of months of employment she had completed.
I’m not entirely sure what her compensation at Amazon was like (mainly because I’m too lazy to look it up), but it’d be pretty hard to turn down $50,000 per month along with all those bennies. Granted, I would’ve requested more than 20 vacation days considering the power position she’s in, but maybe she has more of an affinity for doing business than sipping on margaritas while listening to reggae music. .
[via Business Insider / SEC]
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Will
Will (Twitter / Instagram) is the host of The Sunday Scaries Podcast.
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It’s honestly hard to imagine being so good at something that someone would give you a million dollars before you even start working.
I’d be pumped to get any signing bonus.
Having more vacation days than Yahoo’s Chief Revenue Officer. PGPM
Yahoo is still a thing? I’m pretty skeptical as to where they got that $16M. Very shady practices, I’m guessing they’ve decided to delve into the dark web in order to stay relevant.
$16M in RSUs is very different than $16M in real money.
I understand that, I wasn’t being serious.
Yahoo also owns Flickr and Tumblr. They’re no Instagram and Twitter, but they’re still pretty popular sites.