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...Attorneys for shareholders who defeated the original pay package in the Delaware court had asked for a multibillion-dollar share award as payment....
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...The materials noted that 87 per cent of respondents to Musk’s Twitter plebiscite in January, just after the pay package ruling, were in favour of a move....
...in Botín’s fixed pay last year....
...Silicon Valley’s cult of the founder means that leaders are paid juicily and indulged by their boards as long as they produce outstanding financial returns, which Musk unquestionably did at Tesla, until...
...In a $100 purchase, for example, a shop might pay 2.5 per cent — or $2.50 — in fees to accept a credit card payment....
...But investors should pay close attention....
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...The Musk pay case is more complex as no cash changed hands in the share-grant nullification....
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...Goldman lifted David Solomon’s pay by 24 per cent to $31mn. Bank of America cut the pay of Brian Moynihan, its top executive, by 3 per cent, or $1mn, to $29mn....
...The court stated the pay deal was 250 times the relevant median benchmark for chief executives....
...Lloyd’s boss John Neal told the Financial Times that the incident had the potential to produce the largest marine insurance claim in history, topping the crash of the cruise ship Costa Concordia in 2012,...
...Connecticut attorney Jim Aspell would rather pay a larger airfare than bother with add-on fees. Aspell, whose son works at an airline, can fly for free on that carrier....
...The auditors of large US companies are required not just to sign off on the annual figures themselves but also on the internal controls and systems that a company used to produce them....
...Outside China, meanwhile, years of effort are starting to pay off....
...Citigroup reported better than expected quarterly profits as the bank said it was on track to shed 7,000 jobs this year, a sign that the revamp of the US’s fourth-largest lender may be starting to pay off...
...pay them up to one-third of the “benefit conferred” by the ruling — in other words, how much value was restored to shareholders....
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...In one of his first moves, Ithaca agreed in April 2022 to pay up to $1.5bn for North Sea rival Siccar Point....
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...Letter in response to this article: Will Musk’s pay setback discourage other IPOs? / From Mikhail Taver, Managing Partner, Taver Capital, Paphos, Cyprus...
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