This just spells it all out for you! Reuters has reported that the day after filing for chapter 11 Hertz paid out $16M in retention bonuses for all director level and up. Paul raked on a cool $700K and Jamere $600K! Wake up people!
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Hertz posted annual revenue of $9.8 billion last year, a company record, and its rental car revenue is comparable to that of rival Avis Budget Group (CAR). But Hertz has problems that predate the Covid-19 pandemic. It posted a $58 million net loss in 2019, down from a $225 million loss in 2018. But in the first three of this year it lost $356 million.
So Hertz management always trying to boost revenues instead of profits and it finally caught up to them.
it is true... listed in the 8k revision. Nice to see Execs who have less than 10 years between them get rewarded with serving amendments. Employees who were not given an option to negotiate may see a max $13,650 severance.
https://news.yahoo.com/ceo-hertz-700-000-payday-150404694.html
https://www.sec.gov/Archives/edgar/data/47129/000110465920065674/tm2020858d1_ex10-2.htm
if true it would be listed..... https://ir.hertz.com/sec-filings