News Worms
News Worms


Marissa Mayer to Get $23 Million Golden Parachute After Verizon Buys Yahoo

Marissa Mayer to Get $23 Million Golden Parachute After Verizon Buys Yahoo

Mayer's payout is a significantly lower number than the $54.9 million she was set to receive based on Yahoo's SEC filing during summer 2016.

In filings previous year while Yahoo was still exploring a deal with potential buyers, the company said Ms Mayer could take home up to $55m after any deal, partly because the value of the stock soared since she took over.

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Marissa Mayer will not be CEO of pieces of Yahoo that aren't being sold to Verizon, the company said Monday in a regulatory filing. That figure includes roughly $3 million in cash, almost $20 million in equity and another $24,000 in benefits. Well, Yahoo CEO ... for now.

Chief Executive Officer Lowell McAdam suggested a price cut of as much as $925 million for the deal to buy Yahoo! Verizon is expected to close the deal in the second quarter of this year.

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"For me personally, I'm planning to stay", she said then. It's not yet clear if she will remain with the search and news business that Verizon is acquiring. Yet the deal was thrown into question after the Web portal revealed massive hacks during her tenure that exposed hundreds of millions of users' online information.

In addition, after "discussions with the board", Mayer "offered to forgo" her 2017 annual equity award.

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Mayer's own post-sale future remains up in the air, though she'll no longer hold a seat on the board. That scenario, however, would have resulted from Mayer getting fired; in the latest filing, it appears as though it's a "stepping down" scenario.

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