Stock is still floundering. cash burn is excessive and he gets rewarded with a contract extension? what is this MLB rewarding a left hander with a 6-10 record with another year?
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I routinely witness hourly workers do the bare minimum intentionally for 40 hours a week and then expect OT to be available just so they can pack their pockets even more. It's expected to always be there. The quality of our product going out the door is dropping by the day but everybody who laid a hand on it expects a big payout. Culp is no different than a D-Rate, just on a much bigger and noticeable scale.
Culp’s new employment agreement cancels the old equity grant and replaces it with another that’s identical in size and structure but essentially halves the price targets.
Under the new terms, Culp will earn his $230 million windfall if the shares reach $16.68 within a few years. If they only get to $13.34, roughly 10% above the mark when he became CEO, he will take home $124 million.
In other words, the Board is expecting less results but paying the same anyway. Will your Manager expect and accept less from you and pay you a huge bonus?