Category: board

Elon Musk is one board approval away from another $2.1 billion in stock options
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Elon Musk is one board approval away from another $2.1 billion in stock options

Tesla’s six-month average trailing market capitalization hit $150 billion on Tuesday after a four-month run up of the automaker’s share price that theoretically unlocks a multi-billion-dollar vesting option for CEO Elon Musk. Once Tesla hit the six-month average trailing market cap of $150 billion, which Reuters first reported, Musk became eligible to access the second…

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Macy’s Board Disgustingly Back-Slaps Execs After Slashing 3,900 Jobs
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Macy’s Board Disgustingly Back-Slaps Execs After Slashing 3,900 Jobs

The Macy’s board of directors issued $9 million in equity awards to management. The move comes just weeks after Macy’s announced 3,900 job cuts. It’s the latest incident in a disgusting trend of company boards rewarding severe underperformance. It’s been a terrible year for Macy’s (NYSE: M). Even before the pandemic clobbered the retail industry,…

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Luckin Coffee’s board is forcing out its chairman (also, chairman is forcing out the rest of the board)
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Luckin Coffee’s board is forcing out its chairman (also, chairman is forcing out the rest of the board)

Sometimes you just can’t get a [L]uckin’ break. After announcing this morning that it is ending its fight to stay listed on Nasdaq, China-based coffee chain and delivery company Luckin Coffee announced in a filing with the SEC that it is requiring that its chairman, Lu Zhengyao, resign. It also announced in its SEC filing…

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Tesla board certifies Elon Musk’s payday worth more than $700 million
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Tesla board certifies Elon Musk’s payday worth more than $700 million

Tesla’s board certified a financial milestone that unlocks the first tranche — worth more than $700 million — of an unprecedented multi-billion-dollar pay package for CEO Elon Musk, according a document filed Thursday with the Securities and Exchange Commission. The milestone allows Musk to purchase the first grouping or tranche of nearly 1.69 million shares…

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Facebook’s board is its most gender-balanced yet with two new additions
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Facebook’s board is its most gender-balanced yet with two new additions

On Monday, Facebook announced the addition of two new names to its board of directors, Nancy Killefer and Tracey T. Travis. Killefer brings potentially valuable government insight to Facebook, as she served in the U.S. Department of the Treasury during the Obama administration. With last year’s departure of former Clinton administration chief of staff Erskine…

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Facebook board adds Zuckerberg friend, Dropbox’s CEO
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Facebook board adds Zuckerberg friend, Dropbox’s CEO

Shareholders have repeatedly tried to oust Facebook’s chairman Mark Zuckerberg. The board has repeatedly rejected that demand. Outside investors are unlikely to get much help with that push from Facebook’s newest board member: Dropbox co-founder and CEO Drew Houston. The addition of Houston is the first since the departure of Dr. Susan Desmond-Hellmann from the…

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Alphabet’s board is investigating how execs have handled claims of sexual harassment and other misconduct
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Alphabet’s board is investigating how execs have handled claims of sexual harassment and other misconduct

Alphabet’s board of directors has opened an investigation into how executives at the company have handled misconduct claims, CNBC reported earlier today after viewing materials that it says show an independent subcommittee has been formed — and a law firm hired — to look into the issues. One of the subjects of those claims is…

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