Back of the NetApp: Latest exec signing scores $34M compensation package
Product chief shoots straight to the top of the pay league, out-earning CEO
The World Cup may be over but a reminder of the staggering sums footballers are paid has emerged from an unexpected quarter: NetApp's latest signing to its squad of execs.
Chief Product Officer Syam Nair, who succeeded Harvinder Bhela in July last year after moving from Zscaler, is being made to feel very welcome, judging by the sums involved.
According to NetApp's proxy statement ahead of its annual shareholder meeting in September, Nair received total compensation of $34.27 million in the fiscal year ended April 24, despite joining in July.
Nair's reported compensation included $30.68 million in stock awards, derived from a $31.85 million target equity grant described by NetApp as a "make-whole" award for equity forfeited when he left Zscaler, where he was CTO. He was also promised a $5 million signing bonus, half of which...
Copyright of this story solely belongs to theregister.com. To see the full text click HERE
