[birdman_38]

Severance packages were renegotiated in 2013.
BlackBerry CEO Gets A $56 Million 'Double Trigger' Payoff If He Sells The Company - Business Insider

2012 structure:


2013 structure:

[Roo Zilla]

They better hurry up and sell before the "equity awards" become worthless.

[CrackedBarry]

So his compensation in case of a sale almost doubled, eh? Just this year?

Surely that's a coincidence!

[David Murray1]

Bastards! Or ... typical capitalists?

[ray689]

What a joke this whole thing is. Thieves is all they are. They knew this was coming and set themselves up at the expense of investors, consumers, and most importantly employees and the great city of Waterloo.

Posted via CB10

[ray689]

And now he's hiding like the little coward that he is.

Posted via CB10

[fin2007]

geez, I will vote "nooooo" for the $9 offer

[milo53]

Severance packages were renegotiated in 2013.
BlackBerry CEO Gets A $56 Million 'Double Trigger' Payoff If He Sells The Company - Business Insider



2012 structure:


2013 structure:

The BOD treats BB as if it were GE or Apple, with similar balance sheets. This is a company in a death spiral! I guess if things turned around we would all be cheering.

I will never understand why this Board chose to place obscene bonuses for the sale of the company. It's human nature, SELL THE COMPANY and collect the check.

Also, why did the BOD allow Balsille sell 100% of shares after a short period! is it not customary for a CEO to wait 1 year? The perception is zero confidence. I understand this is a small issue, but this BOD is the ultimate CEO here.

We can be angry and disgusted at these numbers, but the BOD signed off on this insanity. Until recently who ran the BOD? PW.

Not good.

[SK122387]

I don't see anything wrong with this. It's all legal. What do you want, for them to be like, "No no! We are sorry that BlackBerry 10 didn't do better, so we'll just leave our check for millions of dollars right here at the door on our way out. Thanks for having us!"

Where do some of you guys live? Surely not under a rock?

This is just business, and while it might not seem "nice" of them to take the money after all of this is over, that's just the way it is.

One day I hope people wakeup to what big business is all about. It's about getting money. Had BlackBerry 10 taken off, Thorsten would be making even more money if he continued on as CEO. But that's not the case, and if he gets dumped, anyone in their right mind would take $55 million dollars.

[njblackberry]

Also, why did the BOD allow Balsille sell 100% of shares after a short period! is it not customary for a CEO to wait 1 year? The perception is zero confidence. I understand this is a small issue, but this BOD is the ultimate CEO here.

Unless it was restricted stock, good old Jim can sell his shares anytime he wants. He isn't an employee or CEO and has no obligation to anyone else. Nothing customary or illegal there.

Now the other "double trigger" parachutes are outrageous and unbelievable.

[Bold_until_Hybrid_Comes]

Looks like Boublen will be using his Star Alliance super Elite status to go to a sizable new home in the tropics soon as well

[Fuzzballz]

Wow, nice find OP, that's truly startling.

[BBThemes]

Where do some of you guys live?

err the real world, where generally you get penalized for failure, potentially with the loss of your job and income. not the world where failure is rewarded.

Technically this isn't thorstens fault, the board cleared his wages, but it still looks bad either way.

Anyways, as imperical evidence, look at some of the bank CEO`s in the UK, they got dropped in 2008/9 when the banks hits rocky times but had massive payoffs, most of the big names (fred Goodwin for example of RBS) actually ended up giving a large share of their remuneration back. so ya, even at `the top` people can be made to give it back.

[birdman_38]

Wow, nice find OP, that's truly startling.

Thanks. I'm most startled by Frank Boulben's potential severage. A $7.7 million reward following the biggest marketing disaster the history of mobile. Astonishing.

[kevinnugent]

The amazing thing is Prem Watsa was one of the three directors who negotiated and set this up ABOUT 4 MONTHS AGO. You can't tell me he wasn't prepping a buyout then.

[unbreakablej]

Why do they want to buy the company so much though@ that is what I want to know...

Posted via CB10

[njblackberry]

Why do they want to buy the company so much though@ that is what I want to know...

Posted via CB10

It is worth much more dead than alive.
They want to buy it to sell it for parts.

[cbvinh]

err the real world, where generally you get penalized for failure, potentially with the loss of your job and income. not the world where failure is rewarded.

You don't live in the executive world, where failure is rewarded and is sold to the next company as "executive experience".

[birdman_38]

The amazing thing is Prem Watsa was one of the three directors who negotiated and set this up ABOUT 4 MONTHS AGO. You can't tell me he wasn't prepping a buyout then.

Ya I wonder at what point was the alternative options strategy conceived?