Arm faces shareholder backlash over CEO Rene Haas' "excessive" $800 million pay package
Serving tech enthusiasts for over 25 years.
TechSpot means tech analysis and advice you can trust.
WTF?! Does an $800 million compensation package seem excessive? Yes, obviously, which is why Arm is facing a potential shareholder revolt over a proposal to hand that amount to CEO Rene Haas. Much like Elon Musk's $1 trillion pay package, targets must be met for Haas to receive the full amount.
Proxy advisers ISS and Glass Lewis are urging investors to reject the plan at the September 9 annual meeting, according to Seeking Alpha. ISS says value creation plans remain rare in Britain, can produce enormous rewards, and have unproven benefits. Glass Lewis also called the award excessive.
Arm's regulatory filingsays the one-time award comprises 425,000 performance share units divided into three tranches. Haas receives 25% if Arm's market cap hits $1 trillion by March 31, 2029, another 25% if it...
Copyright of this story solely belongs to techspot.com. To see the full text click HERE
