Tags: marissa mayer | yahoo | payout

Marissa Mayer Signing Out of Yahoo With $186M Payout

Image: Marissa Mayer Signing Out of Yahoo With $186M Payout

Yahoo President and CEO Marissa Mayer (Stephen Lam/Getty Images)

By    |   Wednesday, 26 Apr 2017 07:24 AM

Marissa Mayer will sign out of Yahoo as CEO with a $186 million payout after Verizon completes its $4.5 billion purchase of the struggling Internet giant in June.

Mayer, who has served as Yahoo's chief executive officer for five years, owns 4.5 million shares of Yahoo stock and options along with restricted stock that will vest when Verizon's deal is done, reported CNN.

The former Google executive will be left with $186 million, based on Yahoo's stock closing price on Monday of $48.15 a share, once she pays to exercise her options.

Mayer's stock compensation was confirmed in a lengthy definitive proxy statement released by Yahoo Monday, giving shareholders a detail account of her payout.

John Roe, head of ISS Analytics, part of the proxy adviser Institutional Shareholder Services, told the Washington Post that Mayer's total was pulled together before her total in cash and equity compensation during her tenure was accounted for, which is more than $200 million.

"She is walking away with a tremendous sum," Roe told the Post. "But the sum is tremendous not because of a sweetheart arrangement in the transaction, but because of the value the counterparty is willing to pay for Yahoo."

Shares in Yahoo have jumped 208 percent since Mayer started as chief executive in 2012 mainly because of its Asian investments rather than success in its core business, noted the Post.

CNN reported that Yahoo has a sizable stake in the Chinese e-commerce giant Alibaba and Yahoo Japan, which will remain with current Yahoo shareholders in the form of a new, separate stock.

The New York Times said Mayer did surrender some equity compensation she was expected to receive in 2017 because her management team failed to act on a 2014 breach of the company's systems. That failure led to the theft of data on 500 million Internet users.

Mayer was among some of the first employees hired by Google, where she talked about working 130 hours a week at times before taking over at Yahoo, said Bloomberg Businessweek last year.

"I think that I built a really strong set of skills and experiences as a chief executive, and I really hope I get the opportunity to apply those skills," Mayer told Businessweek last August. "But I would never have a five-year plan. If I'd stuck to my original five-year plan when I was 18, I would have missed every great thing that ever happened to me."

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Marissa Mayer will sign out of Yahoo as CEO with a $186 million payout after Verizon completes its $4.5 billion purchase of the struggling Internet giant in June.
marissa mayer, yahoo, payout
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2017-24-26
Wednesday, 26 Apr 2017 07:24 AM
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