Latest news with #executivecompensation
Yahoo
15 hours ago
- Business
- Yahoo
Mowi ASA (OSE: MOWI): Share option scheme for senior executives and allocation of options 2025
Mowi ASA (OSE: MOWI): Share option scheme for senior executives and allocation of options 2025 At Mowi ASA's (the 'Company') annual general meeting ('AGM') on 4 June 2025 the Board of Directors was authorised to grant options under the Share Option Scheme to Senior Executives, as described in Mowi's guidelines for remuneration of leading personnel (the 'Guidelines'). On 19 June 2025 the Board of Directors granted 1.74 million options at a strike price of NOK 201.6860, corresponding to 107.5% of the volume weighted average share price on the Oslo Stock Exchange at the date of the AGM, to a total of 41 individuals. In accordance with the Guidelines, the options have a term of 4 years but will become exercisable immediately if a mandatory bid is made for all of the shares in Mowi, if a voluntary offer is followed-up with a forced transfer of shares in accordance with the Norwegian Securities Trading Act or if Mowi is the non-surviving entity in a merger with another company. The exercise of 50% of the options awarded to an option holder is conditional on achievement of performance criteria, measured in the development of the share price of the Company's shares compared with those of peers ("Performance-based Options"). The exercise of the remaining 50% of the options awarded to an option holder is not conditional on achievement of such performance criteria ("Ordinary Options"). The number of shares and the strike price will be adjusted for dividends and changes in the equity capital during the term of the option according to the Oslo Stock Exchange's derivative rules and provisions in the option agreements. Total profit through the exercise of Performance-based Options in a year is capped at one year's salary for the option holder, and total profit through the exercise of Ordinary Options in a year is capped at one year's salary for the option holder. If the profit exceeds this limit, the number of shares to be issued will be reduced accordingly. The following primary insiders in the Company have been allocated options according to the above, please see attached allocation details. The primary insiders have the following number of shares and options, adjusted for dividends paid, in the Company. Total number of Options granted Total options Name shares owned in 2025 outstanding Ivan Vindheim (CEO) 13,471 200,000 1,076,593 Kristian Ellingsen(CFO) 1,389 100,000 538,297 Øyvind Oaland (COO Farming Norway, Iceland) 5,777 100,000 538,297 Ben Hadfield (COO Farming Scotland, Ireland, Faroes and Canada East) 8,259 100,000 538,297 Fernando Villarroel(COO Farming Americas) 5,801 100,000 538,297 Ola Brattvoll (COO Sales & Marketing) 10,620 100,000 538,297 Atle Kvist(COO Feed) 932 100,000 538,297 Catarina Martins (CTO & Chief Sustainability Officer) 2,834 45,000 175,293 Kjersti Eikeseth(Chief HR Officer) 266 25,000 50,898 Kim Galtung Døsvig (Investor Relations & Head of Treasury) 1,525 25,000 134,575 Lars Tore Andersen(Group Accounting Director) 1,525 15,000 46,641 This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Yahoo
a day ago
- Business
- Yahoo
David Zaslav will take a pay cut after Warner Bros. Discovery splits up—with a big hit to his bonus
CEO David Zaslav's pay package will be impacted by the upcoming company split. While he will earn less, he has been given options that could let him pocket $150 million if the company hits targets. Zaslav earned $51.9 million last year. The looming split of Warner Bros. Discovery is going to impact CEO David Zaslav's paycheck, in both negative and potentially positive ways. After collecting a pay package of $51.9 million last year, making him one of the highest-paid CEOs in the country, Zaslav is facing cuts in the coming year, reports the Wall Street Journal. Under a new contract offered by the board, he will retain his $3 million annual salary, but his target bonus would fall from $22 million last year to $6 million moving forward (with a cap of $12 million). In addition, he would receive a target of $15.5 million in equity next year, then $7.5 million in following years. Beyond that, though, Zaslav was given options for 21 million shares last week. He's also due to get at least 3 million more shares in January. He will become 40% vested in those over five years, with additional vesting benchmarks happening if the company's stock price increases in three levels over that time by 20% to 65%. Should all of the targets be hit, those options could let him pocket $150 million. The new pay package will kick in only if the split occurs by the end of next year. Zaslav's salary has historically been controversial. Earlier this month, shareholders of Warner Bros. Discovery voted down his compensation package, as well as that of other top executives, in a 'Say on Pay' vote. That vote, however, was symbolic and nonbinding, and the board gave Zaslav his $51.9 million. The media and entertainment giant announced on June 9 that it will separate into two publicly traded companies through a tax-free transaction. Zaslav will lead the streaming and studios company, which will oversee movie properties and the HBO Max streaming service. Gunnar Wiedenfels, who has been CFO since 2022, will become CEO of global networks, which will include cable channel businesses CNN, TNT, TBS, Discovery, and more. Zaslav has been CEO of WBD since 2022. His pay rate is higher than that of several competitors, including Disney's Bob Iger ($41.4 million), Comcast's Brian Roberts ($33.9 million), and SiriusXM's Jennifer Witz ($32.1 million). This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Irish Times
13-06-2025
- Business
- Irish Times
Pay, perks and CEO prerogatives
It's good to be a US chief executive. Their pay packages are the envy of the corporate world, averaging $16 million (€13.9 million) for the S&P 500, more than double those for the UK's FTSE 100. And tucked inside are perks that mere mortals can only dream of. Thanks to tough US disclosure rules, we know pet supplier Chewy gave boss Sumit Singh a $29.3 million wad last year that included stock, cash, $424,474 for not one but two cars and $1,007,442 of 'security services' including 'meals and incidentals' for his guards. Meanwhile, CrowdStrike CEO George Kurtz's $35 million package covers $898,426 in personal jet usage and sponsorship of a professional race car that Kurtz drives in competitions. The 2025 proxy cheerily paints this as a cost saving because it avoids 'hiring a professional driver'. Then there's Warner Bros Discovery . David Zaslav has been among America's highest paid CEOs since the company was created in a 2022 merger, and last year was no exception. He took home nearly $52 million and the gravy train included a $17,446 car allowance, $991,179 in personal security, $51,176 to cover the cost of taking personal guests to the Paris Olympics and 250 hours of personal flight time on the corporate jet worth $813,990. READ MORE Neither CrowdStrike nor Chewy has held its annual 'say on pay' vote yet, but Warner Bros Discovery has recently learned there are limits to what investors will tolerate. Last week, its advisory pay vote failed, with 59 per cent of shares voting against. The fury comes after Zaslav's pay climbed 4.4 per cent, even as the company posted an $11.5 billion loss for 2024 and its bond rating was recently cut to junk. Shares are down more than 60 per cent since the merger, and it just announced plans to break itself up. Both major proxy advisers flagged the pay package as problematic, and many investors agreed. The Warner Bros Discovery board said it took the result 'seriously' but investors in the streaming half of the business, which Zaslav will head, would do well to be wary. The directors have a history of setting bonus targets that require little effort because they fall below what the company has already achieved. Zaslav's grouchy investors remain very much the exception. So far this year, 95 per cent of the S&P 500 companies that have held 'say on pay' votes have won approval from at least 70 per cent of shares voted. This is a tad more than prior years, according to Conference Board/Esgauge data. Critics of American capitalism say this shows that shareholders are too quiescent and have allowed companies to become unchecked engines of financial inequality. But the lopsided votes could also be seen as evidence that the system is doing what investors want. Detailed disclosures and vigilant proxy advisers keep shareholders informed, down to the last dollar and, except in egregious cases, they are happy to pay up. Now even that limited accountability is under threat. SEC chairman Paul Atkins is asking whether the current compensation disclosures are 'cost-effective' and avoid 'an overload of immaterial information'. It appears to be a prelude to cutting back on the detail investors get about how bonuses are calculated and the costs of private jets and other perks. Another commissioner, Hester Peirce, last week questioned the legality of 'pass through' voting, which gives fund investors the chance to participate in 'say on pay' votes, rather than being shut out of the proxy process. Congress is seeking to rein in the influence of proxy advisers and make it harder for them to galvanise shareholders against poorly run companies. One of them, Glass Lewis, plans to encourage clients to set their own policies on pay and other proxy votes rather than rely on its recommendations. Taken together, these moves would make it that much harder for investors both to keep track of who is getting paid what and to rebel when they think a company is overpaying or rewarding failure. CEOs may find the proposals attractive – few relish becoming the next Marc Benioff, whose board at Salesforce redesigned his pay package and capped his private jet payments after losing a pay vote last year. But reducing disclosure under the guise of cutting red tape carries risks. Huge payouts and perks are hard to attack if they have been fully disclosed and ratified. Things that smack of secret self-dealing would be more vulnerable. [ John McManus: Kenny Jacobs' €374,830 salary is a soft target; the problem lies elsewhere Opens in new window ] Former Tyco CEO Dennis Kozlowski is a cautionary example. Leaks about lavish parties and corporate art purchases stoked outrage and led to a prison conviction for unauthorised bonuses. Americans may be openhanded with CEO pay but they react badly if their generosity has been abused. – Copyright The Financial Times Limited 2025
Bloomberg
06-06-2025
- Business
- Bloomberg
Teton Capital Said to Agitate for Changes at Atlantic Union Bank
Financier David Sokol's investment fund has taken a stake in Atlantic Union Bankshares Corp. and is pushing the US regional bank to consider cutting costs, shrinking its board and overhauling its executive compensation, according to people familiar with the matter. Teton Capital — run by the former Berkshire Hathaway Inc. executive — holds a less than 5% stake in Atlantic Union, said the people, who asked to not be identified because the details aren't public.
Yahoo
05-06-2025
- Business
- Yahoo
Warner Bros Discovery (WBD) Shareholders Reject CEO Pay Amid Stock Slump
A majority of Warner Bros Discovery (WBD, Financials) shareholders voted against the 2024 compensation package for Chief Executive David Zaslav, according to a regulatory filing issued Tuesday. The nonbinding vote reflects growing shareholder frustration as the company's stock continues to underperform. Warning! GuruFocus has detected 4 Warning Signs with WBD. Shareholders rejected Zaslav's $52 million pay deal, which exceeds the 2024 compensation reported by Disney CEO Bob Iger ($41 million) and Comcast CEO Brian Roberts ($34 million). While the vote does not mandate changes, the board said it takes the results of the annual advisory vote on executive compensation seriously. Revenue and cash flow concerns have persisted across WBD's television business, prompting S&P Global to cut the company's credit rating to BB-plus last month. Shares of WBD have fallen nearly 60% since the merger that formed the company in 2022. At the time of the merger, WBD reported $55 billion in debt, which had declined to $38 billion as of May, according to the company. Some analysts expect Warner Bros Discovery may consider spinning off its studio and streaming businesses as it works to regain investor confidence. See insider trades for WBD. Explore Peter Lynch chart. This article first appeared on GuruFocus.
