Andrew Mason's $378.36 Retirement Package

http://finance.yahoo.com/news/andrew-masons-378-36-retirement-190743504.html

by MarlonPro • 13 years ago

45 25 13 years ago

finance.yahoo.com

zafka2• 13 years ago

Does anyone know where he came up with the magic number? "Mason's annual salary is $756.72"

kmfrk2• 13 years ago

Six months is half that - i.e. the number in the title.

The salary is disclosed in public filings.

jld• 13 years ago

I think the question is about the genesis of the unusual annual salary of $756.72.

mitchellhislop• 13 years ago

I think he is referring to the annual number - why that exact amount?

genkaos• 13 years ago

Found this.

2nd comment from http://www.businessinsider.com/bizarre-groupon-ceo-andrew-ma...

It does seem like there's some reason. I wonder if its a tax convenience thing. It says he got $7186 in other comp and the footnote that includes the cost of parking, etc... But that's non-cash so if he only made $1, they wouldn't actually have enough in his paycheck each month to cover the taxes that need to be withheld (social security, etc...) so he's have to go to the trouble of writing a check each month. It's a good gesture as is; no reason to make it logistically inconvenient on him and the payroll staff. My guess is if you put this all in an accounting system, someone who makes $757 in cash and $7186 in non-cash income in Chicago IL has to withhold $756 in various taxes on their W-2.

TDL• 13 years ago

Below is a link to the DEF14A. All publicly traded companies have to file how their C-level executives & board members are compensated.

http://www.sec.gov/Archives/edgar/data/1490281/0001047469120...

firebones• 13 years ago

My guess is that it is reportable life insurance compensation?

commiebob• 13 years ago

"Mason sold around $28 million worth of shares before Groupon's IPO in the fall of 2011."

I think he'll be ok.

capkutay• 13 years ago

Not to mention he has close to $200 million worth of shares on paper.

vellum• 13 years ago

"Much of Mason's wealth comes from Groupon's stock. He owns 7 percent, or about 46 million shares, according to FactSet. Based on Thursday's closing price, that's worth more than $208 million."

I think he'll be more than ok.

http://www.npr.org/templates/story/story.php?storyId=1731820...

fpp• 13 years ago

as GRPN's share price went up almost 20% since his announcement - well I guess its fair to say he made about $40M (on paper) by leaving.

abat• 13 years ago

The funny thing is he would have been much richer if he got fired much sooner. That would have given him an excuse to sell his stake before it tanked. Being the CEO meant he couldn't dump his stock.

nikcub• 13 years ago

the other perspective is that it isn't much for the sole founder of a company that Google offered $6B for, and was worth nearly $20B[0] in the public market.

[0] Nov '12 peak was $20.15B http://knowledgetoday.wharton.upenn.edu/2011/11/groupon%E2%8... same article also says that pre-IPO secondary market valuation reached $30B

> But those developments hurt Groupon’s pre-IPO valuation, which fell from a peak of $30 billion to one institutional investor’s estimate of $8.7 billion.

dmix• 13 years ago

> When Groupon went public, in 2011, it was valued at $11 billion dollars

obviouslygreen• 13 years ago

Straight up bullshit. "It isn't much" is not valid commentary on "$28 million."

nicholaides• 13 years ago

Right. So, why is this news-worthy?

chacham152• 13 years ago

> He can take comfort in knowing that, by leaving, he has already boosted his net worth.

Thats so sad!!!!

loeg• 13 years ago

And yet, at the end of the day, he has $200-300 million. I don't feel too bad for the guy.

chacham152• 13 years ago

I dont know about you, but a lot of the joy that I get out of building things has nothing to do with money.

josscrowcroft• 13 years ago

I call "linkbait"

Andrew Mason's $378.36 Retirement Package

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