For someone that is 'steering' the ship to destination Broadcom, the captain has gone very quiet. Has he jumped overboard? Seems strange that given the situation we find ourselves in he has gone underground. But hang on, its a new FY so wait for the email saying how proud he is of us in such a difficult year etc etc. (Maybe he will use ChatGPT to generate this)...
Anyway, if anyone does see him say hi from us!
Maybe VPs don’t have as big a golden parachute, does it matter? I get the sense they are extremely well compensated so likely have better contracts in this circumstance. If anyone knows, that would be nice to see.
Here is a contract for a SVP
https://www.sec.gov/Archives/edgar/data/1124610/000119312510044677/dex1028.htm
Similar terms, though nothing wrt to health insurance, but with accelerated vesting, that benefit is sort of meaningless.
I’m sure folks can find more examples on sec.gov.
These policies are basically the bedrock of Silicon Valley exec compensation. “The standard form”
How can a change in control for a company this size ever be considered a positive event that is rewarded? Insane! You fail and get rich while failing. What a value system!
what's that clown up to this time?
to ID10T that is Post ID: @zyt+1l3FcK56
That SEC doc is all Raghu and Dhawan. THERE IS NOTHING IN IT ABOUT VPs getting accelerated RSUs or bonus, etc. SVPs and C level, yes they have change in control stuff. VPs... Show me. I have read EVERY SEC doc we file. Stop being obtuse.
Some dude just googled those guys and I pointed out I want a source on the claim about VP comp.
To : Post ID: @dsk+1l3FcK56 who asked for SoUrCeS:
It's a publicly listed company. That means all of this kind of info is - you know - PUBLIC. It has to be public due to SEC regs, etc.
One of the replies googled it for you. Next time: google it yourself. Grow up and wake up.
He's quiet-quitting.
“ Mr. Raghuram and Mr. Dhawan will also participate in VMware’s Change-in-Control Retention Plan, which provides cash severance benefits consisting of two years and one and a half years, respectively, of their annual base salary and target bonus amounts and 150% of the monthly cost of their annual health and dental insurance premiums for two years for Mr. Raghuram and one and a half years for Mr. Dhawan upon an “involuntary termination” following a “change-in-control,” each as defined in the Change-in-Control Retention Plan. Participants in the plan also receive full vesting acceleration in their outstanding RSU and PSU awards, unless otherwise indicated, with PSU awards accelerating at the level of actual performance for completed performance periods and at target for performance periods that are not completed prior to the change-in-control.”
It’s good to be the king is Silicon Valley.
I think he also gets a stuffed animal if he throws his garbage in the correct recycling containers.
https://www.sec.gov/Archives/edgar/data/1124610/000119312521158407/d513266d8k.htm
Look at change in control section.
Keep googling his name on site:sec.gov for more info
Ah, look there is Raghu's FY 24 email!
Brought to you by ChatGPT.
On May 12, 2021 the stock opened at $160.13. Anybody want to guess what else happened on that day?
"Also, all managers - VP's and above, will get a one time payment in the amount equals to 1year salary as bonus for staying with VMW untill the closing day. Plus full Cobra for 1year. Plus vesting accelerating of option, one year in advanced.
So who is the joke about?"
Uh... sources?
From Wikipedia- “ Mr. Magoo is an elderly, wealthy, short-statured retiree who gets into a series of comical situations as a result of his extreme near-sightedness, compounded by his stubborn refusal to admit the problem. However, through uncanny streaks of luck, the situation always seems to work itself out for him, leaving him no worse than before.”
There has always been a shocking large inequality of bonus/salary for C-level and SVP. Noting to see here, BAU.
He took 52M$ as a bonus, now he can do what ever he wants. We are the joke not Mr. Magoo.
Also, all managers - VP's and above, will get a one time payment in the amount equals to 1year salary as bonus for staying with VMW untill the closing day. Plus full Cobra for 1year. Plus vesting accelerating of option, one year in advanced.
So who is the joke about?
He is stuck in goodwill in between the clothing racks. Poor thing.