New BlackBerry leader's pay package released

Nov 11, 2013

New BlackBerry chairman and interim chief executive John Chen has a large pay package.

In addition to a $1 million base and $2 million performance bonus, the Waterloo, Ontario, company will give him 13 million BlackBerry restricted share units, worth $85 million based on the current stock price, that will vest over five years.

The former Sybase CEO signed on last week, when the smartphone maker abandoned plans to sell itself. The details were disclosed in a Securities and Exchange Commission filing on the strategy shift.

If Chen fails to turn around BlackBerry, he could net far less.

If fired he will receive his salary for the rest of that year, and an additional payout $6 million—two times his salary and base bonus—plus benefits for 18 months.

Explore further: Samsung forecasts profit fall as S6 sales disappoint

Related Stories

Oracle CEO Ellison's pay drops 18 pct to $78.4M

Sep 21, 2013

The value of Oracle founder and CEO Larry Ellison's pay package dropped 18 percent in fiscal 2013, to $78.4 million, after the company missed its internal financial targets and he declined his annual cash bonus.

Facebook discloses details on bonuses

Feb 09, 2012

Facebook's top executives, including CEO Mark Zuckerberg, are eligible for twice-a-year bonuses of up to 45 percent of their base salaries and other earnings, according to a Wednesday regulatory filing.

Apple CEO Tim Cook could top pay list in 2011

Jan 10, 2012

(AP) -- Tim Cook could well end up being the highest paid CEO in America in 2011, after Apple Inc. granted him a million restricted stock units last August for taking the reins shortly before co-founder Steve Jobs died.

Recommended for you

Amazon pushes Prime service with day of deals

16 hours ago

Amazon is trying to lure more subscribers to its $99 Prime loyalty program by pushing a day of discounts it calls "Prime Day" during the sleepier summer shopping season.

Mexico City proposes regulations for Uber

Jul 04, 2015

Mexico City is proposing regulations that would allow Uber and other smartphone-based ride-sharing apps to operate, while requiring drivers and cars to be registered, the city's Office of Legal and Legislative Studies said ...

Shyp reclassifies contract couriers as employees

Jul 03, 2015

Shyp, the quickly growing startup that provides on-demand courier services, said Wednesday it would reclassify its contract workers as employees, becoming the latest high-profile tech company to change how it compensates ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.