Marissa Mayer to Get $186 Million for Leaving Yahoo (NASDAQ:YHOO)

Marissa Mayer to Get $186 Million for Leaving Yahoo (NASDAQ:YHOO)

Yahoo Inc. Chief Executive Marissa Mayer is set to reap some $187 million from her shareholdings as a result of the internet company's sale of its core business to Verizon Communications Inc., according to securities filings. "She also holds about 1.6 million Yahoo shares, worth almost $77 million", the Journal reported (paywall).

Yahoo! agreed past year to sell off its core internet business to Verizon in a $4.8bn buyout deal.

Mayer was denied bonus for past year after hackers compromised 1 billion user accounts.

Marissa Mayer will have $186 million in Yahoo stock when Verizon buys the company
Marissa Mayer Is Leaving Yahoo with an Insane Amount of Money

Just recently, Verizon and Yahoo reduced the value of the deal by $350 million after Yahoo disclosed data breaches that affected hundreds of millions of users. Of course, the shareholders of Yahoo will have to approve or reject the deal on June 8th. Mayer, along with other Yahoo execs, will receive accelerated vesting of all stock options and other equity awards under the terms of the Verizon sale. Yahoo only notified 26 account holders of the breach at that time.

The company stripped Mayer of her bonus for previous year after hackers compromised 1 billion user accounts.

This increase wasn't because of improvements in the advertising business of Yahoo, which has continued losing from its rival services by Facebook and Alphabet. Adding salary, bonus and options she has already exercised, that brings her total compensation over her tenure at Yahoo to an estimated $227.6 million.

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"People give Mayer a hard time because she was supposed to be some kind of product genius: 'She didn't create the next Snapchat inside Yahoo so she didn't succeed, '" Espelien said.

Ms Mayer, 41, who joined Yahoo in 2012 and presided over a series of ill-timed purchases, was in line for a smaller sum a year ago of $55m but the company's recent rise in share price has sent her pay package soaring.

Probably, one of the reasons why this deal got so much interest is not only linked to its impressive value, but also to the fact that Verizon cut part of the initial offer and finally said it will be paying $4.5 billion for the company.

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Mayer is leaving Yahoo with a market cap of about $46 Billion, which includes Altaba and what Verizon is buying without the liabilities of tax associated with these transactions.

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