Published: Thu, April 27, 2017
Business | By Pat Ferguson

Yahoo CEO Marissa Mayer to make $186 million on sale to Verizon

Yahoo CEO Marissa Mayer to make $186 million on sale to Verizon

Yahoo Chief Executive Marissa Mayer would leave the online media company with more than $187 million if she exercises all her stock options, according to a securities filing this week.

Along with the $186 million from stock, Mayer will get a $3 million cash severance golden parachute.

According to company filings, Mayer holds $77 million in shares outright that she would have access to whether a sale occurred or not.

File- Marissa Mayer is about to lose her CEO job, but she's in for a nice consolation prize.

Yahoo! agreed previous year to sell off its core internet business to Verizon in a $4.8bn buyout deal.

That figure was later cut to $4.5bn after the company disclosed last autumn that it had been the victim, in 2013 and 2014, of two huge security breaches, the second of which affected the accounts of more than a billion customer accounts.

The 2014 data breach prompted Yahoo and Verizon to renegotiate their original deal, which was struck in July.

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A yes vote, the widely expected outcome, would bring CEO Marissa Mayer's unsuccessful five-year effort to revive the fortunes of the company to an end.

Yahoo shareholders will vote on the deal during a special meeting on June 8, according to a securities filing published Monday.

The hefty payout comes despite Ms. Mayer's inability to accomplish what she was hired to do five years ago: revitalize the fading internet icon after its struggles with high employee and executive turnover and declines in ad revenue.

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.

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. Such numbers have also been tallied before, putting her total in cash and equity compensation during her tenure north of $200 million.

Mayer is leaving Yahoo with a market cap of about $46 Billion, which includes Altaba and what Verizon is buying without the liabilities of tax associated with these transactions.

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