Amazon.com plans to give new CEO Andy Jassy more than $200 million in additional inventory, to be paid off over 10 years, the company said in a regulatory filing Friday.
The filing says Amazon will grant of 61,000-share bonus on July 5, the date Jassy succeeds Jeff Bezos in the online retailer's first CEO transition since its founding in 1994.
The award's exact value will depend on how the shares are trading when they pay out in future years, encouraging Jassy to grow a company that's worth $1.77 trillion today. Though Amazon did not disclose the vesting schedule, its previous stock grants have not vested right away.
Jassy's basic salary has been $175,000, filings show. On top of that, he has $45.3 million of previously awarded stock that will be awarded this year, and he has $41.5 million of stock granted in 2020.
5 July 2021