EMC CEO Joe Tucci could make about $30 million for selling EMC
EMC
That's something he's been postponing for years.
Tucci will walk with a handsome payout for orchestrating this happy ending for EMC shareholders.
He may get $27 million, according to data compiled by Equilar, an executive-compensation research firm, as reported by the New York Times.
EMC outlined "change in control" compensation when it filed its last proxy statement with the SEC in March.
According to the chart below from that proxy statement, Tucci would make $39 million if he left the company due to a change in control.
However, that $39 million was based on $29.74 per EMC share, and it assumed that Tucci would be entitled to all of his upcoming performance-based equity awards.
Dell is buying EMC for $24.05 per share in cash, plus some stock associated with EMC's interest in VMware. Dell estimates that, all told, EMC stockholders will get $33.15 per share.
He'll have to wait a few months until the deal closes to get his bonus. Tucci has promised to stay on as EMC CEO until then and that's expected to happen between May and October, 2016, Dell says.
We reached out to EMC for comment and will update when we hear back.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema
- In second consecutive week of decline, forex kitty drops $2.28 bn to $640.33 bn
- SBI Life Q4 profit rises 4% to ₹811 crore
- IMD predicts severe heatwave conditions over East, South Peninsular India for next five days
- COVID lockdown-related school disruptions will continue to worsen students’ exam results into the 2030s: study
- India legend Yuvraj Singh named ICC Men's T20 World Cup 2024 ambassador
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market