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Amazon investors nuke ethics overhaul and say yes to $212M CEO pay

theregister.com

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Re: Amazon investors nuke ethics overhaul and say yes to $212M CEO pay

#4

Post by ctvo »

> Jassy's executive compensation package, which is tied to Amazon stock price and mostly delivered as stock awards over a multi-year period, was $212 million in 2021.

They used "multi-year" here over the actual timeline: 10 years. It sounds a lot less outrageous that his pay is heavily based on the stock price and comes out to be ~21 million a year as the head of one of the largest tech companies in the world.

Here are the details:

> Virtually all of Jassy’s 2021 comp — $211.9 million — was in restricted stock that vests over the next 10 years, according to Amazon’s proxy statement filed Friday. His base salary was $175,000, unchanged from the two prior years; in addition, Amazon paid $589,149 in security expenses for the CEO.

From Variety https://variety.com/2022/digital/news/amazon-andy-jassy-2021...

Edit:

> The Amazon board’s compensation committee said in the filing that it intends for Jassy’s stock award, which vests through 2031, “to serve as a long-term incentive for Mr. Jassy, and, accordingly, believes it should be viewed as compensation over the 10-year term and not solely as compensation for 2021.”

Doesn't sound like he'll get too many more RSUs yearly.

Re: Amazon investors nuke ethics overhaul and say yes to $212M CEO pay

#5

Post by colechristensen »

ctvo wrote: post #4

> Jassy's executive compensation package, which is tied to Amazon stock price and mostly delivered as stock awards over a multi-year period, was $212 million in 2021. They used "multi-year" here over the actual timeline: 10 years. It sounds a lot less outrageous that his pay is heavily based on the stock price and comes out to be ~21 million a year as the head of one of the largest tech companies in the world. Here a…

But does he get another 200M package that vests over ten years next year?

Re: Amazon investors nuke ethics overhaul and say yes to $212M CEO pay

#8

Post by __derek__ »

colechristensen wrote: post #5
ctvo wrote: post #4

> Jassy's executive compensation package, which is tied to Amazon stock price and mostly delivered as stock awards over a multi-year period, was $212 million in 2021. They used "multi-year" here over the actual timeline: 10 years. It sounds a lot less outrageous that his pay is heavily based on the stock price and comes out to be ~21 million a year as the head of one of the largest tech companies in the world. Here a…

But does he get another 200M package that vests over ten years next year?

Assuming that Amazon's executive compensation continues to function as it has for the last decade-plus, no.

Re: Amazon investors nuke ethics overhaul and say yes to $212M CEO pay

#9

Post by mjw1007 »

colechristensen wrote: post #5
ctvo wrote: post #4

> Jassy's executive compensation package, which is tied to Amazon stock price and mostly delivered as stock awards over a multi-year period, was $212 million in 2021. They used "multi-year" here over the actual timeline: 10 years. It sounds a lot less outrageous that his pay is heavily based on the stock price and comes out to be ~21 million a year as the head of one of the largest tech companies in the world. Here a…

But does he get another 200M package that vests over ten years next year?

And does he still get the 2021 package if he doesn't continue working in that role for the following nine years?

Re: Amazon investors nuke ethics overhaul and say yes to $212M CEO pay

#10

Post by sokoloff »

vfclists wrote: post #2

When executive pay is based on stock value which depends on keeping costs down, what relief can there be for employees and subcontractors?

Stock value depends on growth rate and overall profitability much more than on simply "keeping costs down".

Shareholders invest in Amazon for growth and (now) for profit. Compensating the CEO based on how effectively they deliver that seems like a pretty dang obvious strategy for shareholders to support.

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