this post was submitted on 23 Feb 2024
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How much of that compensation is in stock? It's pretty common for executives to be largely compensated in stock, particularly right before an IPO.
I only point this out because the math isn't necessarily as simple as revenue minus executive compensation. Issuing stock isn't a cash transaction for reddit.
His pay was $300k something. So it was almost all stock. To convert his ownership stake into shares ahead of the IPO as you mentioned.
He supposedly owns around 3-4% of Reddit. And they're trying to IPO at an initial valuation of $5B. So when that goes to shit like it probably will this theoretical $192M drops dramatically.
Ahh, that makes all sorts of sense. The idea that he was paid $193 Million was unbelievable.
You could pay 1,000 moderators $100k for the year and still give Spez $93 Million if that were his salary.