Andrew Mason's $378.36 Retirement Package(finance.yahoo.com)
finance.yahoo.com
Andrew Mason's $378.36 Retirement Package
http://finance.yahoo.com/news/andrew-masons-378-36-retirement-190743504.html
25 comments
"Much of Mason's wealth comes from Groupon's stock. He owns 7 percent, or about 46 million shares, according to FactSet. Based on Thursday's closing price, that's worth more than $208 million."
I think he'll be more than ok.
http://www.npr.org/templates/story/story.php?storyId=1731820...
I think he'll be more than ok.
http://www.npr.org/templates/story/story.php?storyId=1731820...
The funny thing is he would have been much richer if he got fired much sooner. That would have given him an excuse to sell his stake before it tanked. Being the CEO meant he couldn't dump his stock.
the other perspective is that it isn't much for the sole founder of a company that Google offered $6B for, and was worth nearly $20B[0] in the public market.
[0] Nov '12 peak was $20.15B http://knowledgetoday.wharton.upenn.edu/2011/11/groupon%E2%8... same article also says that pre-IPO secondary market valuation reached $30B
> But those developments hurt Groupon’s pre-IPO valuation, which fell from a peak of $30 billion to one institutional investor’s estimate of $8.7 billion.
[0] Nov '12 peak was $20.15B http://knowledgetoday.wharton.upenn.edu/2011/11/groupon%E2%8... same article also says that pre-IPO secondary market valuation reached $30B
> But those developments hurt Groupon’s pre-IPO valuation, which fell from a peak of $30 billion to one institutional investor’s estimate of $8.7 billion.
> When Groupon went public, in 2011, it was valued at $11 billion dollars
Straight up bullshit. "It isn't much" is not valid commentary on "$28 million."
Not to mention he has close to $200 million worth of shares on paper.
Right. So, why is this news-worthy?
> He can take comfort in knowing that, by leaving, he has already boosted his net worth.
Thats so sad!!!!
Thats so sad!!!!
Does anyone know where he came up with the magic number?
"Mason's annual salary is $756.72"
Found this.
2nd comment from http://www.businessinsider.com/bizarre-groupon-ceo-andrew-ma...
It does seem like there's some reason. I wonder if its a tax convenience thing. It says he got $7186 in other comp and the footnote that includes the cost of parking, etc... But that's non-cash so if he only made $1, they wouldn't actually have enough in his paycheck each month to cover the taxes that need to be withheld (social security, etc...) so he's have to go to the trouble of writing a check each month. It's a good gesture as is; no reason to make it logistically inconvenient on him and the payroll staff. My guess is if you put this all in an accounting system, someone who makes $757 in cash and $7186 in non-cash income in Chicago IL has to withhold $756 in various taxes on their W-2.
2nd comment from http://www.businessinsider.com/bizarre-groupon-ceo-andrew-ma...
It does seem like there's some reason. I wonder if its a tax convenience thing. It says he got $7186 in other comp and the footnote that includes the cost of parking, etc... But that's non-cash so if he only made $1, they wouldn't actually have enough in his paycheck each month to cover the taxes that need to be withheld (social security, etc...) so he's have to go to the trouble of writing a check each month. It's a good gesture as is; no reason to make it logistically inconvenient on him and the payroll staff. My guess is if you put this all in an accounting system, someone who makes $757 in cash and $7186 in non-cash income in Chicago IL has to withhold $756 in various taxes on their W-2.
Below is a link to the DEF14A. All publicly traded companies have to file how their C-level executives & board members are compensated.
http://www.sec.gov/Archives/edgar/data/1490281/0001047469120...
http://www.sec.gov/Archives/edgar/data/1490281/0001047469120...
Six months is half that - i.e. the number in the title.
The salary is disclosed in public filings.
The salary is disclosed in public filings.
I think the question is about the genesis of the unusual annual salary of $756.72.
$10.51, 6 times a month.
The number is probably the exact amount to cover taxes on some other benefit, after taking out taxes on the salary itself.
The number is probably the exact amount to cover taxes on some other benefit, after taking out taxes on the salary itself.
The best I can come up with is $31.53 per pay period. That seems just as mysterious, however.
Yes, that was the question. Thought it might be a multiple of some arcane physical constant.
The answer will probably pop up on Quora soon - behind a registration wall no doubt.
http://www.quora.com/Groupon
And yeah, it could be a number broken down per year, per month, per week, per day, per hour.
http://www.quora.com/Groupon
And yeah, it could be a number broken down per year, per month, per week, per day, per hour.
I think he is referring to the annual number - why that exact amount?
My guess is that it is reportable life insurance compensation?
I call "linkbait"
I think he'll be ok.