Marissa Mayer to exit Yahoo with $186 million payout

Marissa Mayer to exit Yahoo with $186 million payout

The company made a filing on Monday, according to which, Marissa Mayer will get around $186 million once she leaves Yahoo. Included in the figure is her golden parachute payout of $23 million, which largely consists of restricted stock.

Yahoo CEO Marissa Mayer will reportedly leave the company at least $186 million richer following Verizon's buyout of the Internet pioneer.

Mayer has a total of 4.5 million shares of Yahoo stock and options, plus restricted stock that will vest when the Verizon deal goes through, according to a filing on Monday.

Under Mayer's leadership, Yahoo experienced two unprecedented security breaches affecting more than 1 billion users accounts - with the 2014 incident traced to Russian spies. The revelation of this data breach resulted in YHOO renegotiating its deal with Verizon Communications Inc. and lowering its price by $350 million, reports CNBC.

The payoff comes on top of roughly $200m that Mayer has already received in salary and bonuses over her five year tenure.

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That number is based on the Times' analysis of a new Yahoo proxy statement filed on Monday with the Securities Exchange Commission, ahead of the special shareholders meeting on June 8th where the deal is expected to pass overwhelmingly. All told, her time at Yahoo will have netted her well over $200 million, according to calculations based on company filings.

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.

Shares in Yahoo have jumped 208 percent since Mayer started as chief executive in 2012 mainly because of its Asian investments rather than success in its core business, noted the Post.

That pay, which will be completely vested at the season of the shareholder vote, does exclude her compensation and rewards in the course of recent years, or the estimation of other stock that Ms Mayer has officially sold. Yahoo's board faulted Mayer for the 2014 hack, because senior company executives knew it happened that year but failed to properly investigate it, and they stripped her of $12 million from her 2016 and 2017 compensation. Many analysts believe Mayer will have no role in Verizon after the deal is done.

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