Published: Thu, April 27, 2017
Markets | By Lucia Cruz

Marissa Mayer's Verizon Payday: CEO Owns Yahoo Stock Worth $216 Million

Marissa Mayer's Verizon Payday: CEO Owns Yahoo Stock Worth $216 Million

At the most recent closing price of $48.15 per share, that's worth about $216 million.

Yahoo also disclosed in the filing Monday that it owns 4.6 million shares of Snap, the maker of Snapchat.

But the filing also served as an eye-popping reminder of the hefty stock compensation its CEO, Marissa Mayer, has amassed during her tumultuous tenure at the faded Internet pioneer.

Plus, there were security breaches where hackers compromised 1 billion user accounts, which left Yahoo in a worse state than when she joined.

That company ended up being Verizon, which is set to buy Yahoo for about $4.5 billion (the original deal was renegotiated and $350 million removed from the price due to the data breaches).

The whopper of a payday does not include her salary, bonuses and stock awarded over the past five years, or the stock she's already sold.

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Mayer has about $84 million in stock options and $25 million in restricted stock units, according to the Monday filing.

Past year it was revealed that one billion Yahoo accounts had been hacked under Mayer's watch - it was the largest hack of its kind in history. But the way she personally profited during her time made her stay at Yahoo charming.

Mayer's plan was initially to expand Yahoo's content business. Mayer recently said she would turn down an equity bonus for 2017 and a cash bonus for 2016, citing the massive hacks.

But Mayer, the company's chief executive, will be well compensated for her failure.

John Roe, head of ISS Analytics, part of the proxy adviser Institutional Shareholder Services, told the Washington Post that Mayer's total was pulled together before her total in cash and equity compensation during her tenure was accounted for, which is more than $200 million. Mayer's pay cut was expected to be at least $12 million. Although Yahoo's core businesses of email, news and search continued to tread water under Mayer's leadership, long-held investments in Alibaba, China's leading e-commerce company, and Yahoo Japan, an affiliated company controlled by SoftBank, increased in value, driving up Yahoo's stock price. To make matters worse, Verizon threatened they may pull out of the deal as clearly the security measures at Yahoo were subpar.

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