News for hackers. Stuff that matters.
Re:A Message from Eric Yuan, CEO of Zoom by nine_zeros on Tuesday February 07, 2023 @01:00PM (#34696336)
At least they are taking some hit to themselves? I know a lot of folks are going to complain about equity. But equity is already down. This is a nice gesture, much much better than other layoff peers.
Re:A Message from Eric Yuan, CEO of Zoom by anigbrowl on Tuesday February 07, 2023 @01:10PM (#34696520)
Also he and the C-suite are foregoing their bonuses but giving them out to departing employees. Pretty decent.
Re:A Message from Eric Yuan, CEO of Zoom by HollywoodZro on Tuesday February 07, 2023 @01:30PM (#34696889)
It's a gesture, but the issue is that salary and bonus are often a smaller part of executive compensation.

The equity grant that they receive is often millions more than the salary and the company performance bonus.

I think forgoing the equity and instead adding it to the severance pool would be truly owning up to the decisions made by executive management.

Re:A Message from Eric Yuan, CEO of Zoom by fatnoah on Tuesday February 07, 2023 @01:55PM (#34697309)
Looking at SEC filings, he received a grant of 612,499 shares of stock on July 8, vesting quarterly over 4 years. That means ~153k shares will vest in 2023. Zoom stock is up $4 based on the announcement, making his RSUs worth over $600k more. He gave up just over $300k in cash compensation to do so. That's an ROI of 100% in one day.
Re:A Message from Eric Yuan, CEO of Zoom by anigbrowl on Tuesday February 07, 2023 @02:38PM (#34698154)
It would have gone up anyway just based on the workforce cuts, no? Also, I think it's better to look at the price over time rather than assume the pop from an announcement is the new baseline.

It's not that I think the guy is a saint or anything, but many CEOs conduct layoffs and write about how sad they are without making any financial sacrifice. So even a limited gesture of giving up ~30% of his potential gains this year is unusual by prevailing norms.