Thread regarding Citrix Systems Inc. layoffs

Compensation from the Merger

https://investors.citrix.com/~/media/Files/C/Citrix-IR/documents/annual-reports/2021/2022-definitive-proxy-as-filed-3-16-22.pdf

Cash payments found on page 77 (numbered page 59 in the proxy). Unfortunately, shareholders can only vote in an advisory capacity, which means these payouts will move forward if the merger is approved, regardless of voting yes or no on the question of compensation. The amounts of money being paid to these "leaders" for running the company into the ground is pure greed and graft.

Cash Payments to Executive Officers and Non-Employee Directors in Respect of Citrix RSUs
Robert M. Calderoni ...................... 11,020,464
Michael Arenth .......................... 6,528,080
Antonio G. Gomes ....................... 2,350,296
David J. Henshall (2) ..................... — —
Paul J. Hough ........................... 2,323,360
Woong Joseph Kim ...................... 8,039,408
Donna N. Kimmel ....................... 2,095,184
Hector Lima ............................ 3,056,248
Timothy A. Minahan ..................... 2,095,184
Mark J. Schmitz ......................... 3,981,536
Arlen R. Shenkman (3) .................... — —
Jason Smith ............................ 3,557,736
Non-Employee Directors:
Nanci E. Caldwell ....................... 222,976
Murray J. Demo ......................... 222,976
Thomas E. Hogan ........................ 222,976
Moira A. Kilcoyne ....................... 222,976
Robert E. Knowling, Jr. ................... — —
Peter J. Sacripanti ........................ 222,976
J. Donald Sherman ....................... 222,976

Cash Payments to Executive Officers in Respect of Citrix PRSUs

Robert M. Calderoni ................... — —
Michael Arenth ....................... — —
Antonio G. Gomes .................... 6,514,352
David J. Henshall (3) .................. 8,977,696
Paul J. Hough ........................ 6,416,384
Woong Joseph Kim ................... 3,277,352
Donna N. Kimmel ..................... 5,776,784
Hector Lima ......................... 3,856,112
Timothy A. Minahan .................. 5,776,784
Mark J. Schmitz ...................... 7,737,912

Cash Payments to Executive Officers and Non-Employee Directors in Respect of Citrix DSUs
Robert M. Calderoni .................... 1,839,240
David J. Henshall (3) ................... 5,206,864
Non-Employee Directors:
Nanci E. Caldwell ...................... 3,379,584
Murray J. Demo ....................... — —
Thomas E. Hogan ...................... — —
Moira A. Kilcoyne ..................... — —
Robert E. Knowling, Jr. ................. 364,208
Peter J. Sacripanti ...................... 1,276,912
J. Donald Sherman ..................... —

The following table and footnotes describe the benefits each named executive officer is eligible to receive in connection with the completion of the Merger. I just included the totals, but you can see the details in the proxy. How long has Joe Kim been here? 13 Million for a few months of work?

Robert M. Calderoni ..................... 20,248,022
David J. Henshall ....................... 17,727,696
Arlen R. Shenkman ..................... 4,000,000
Antonio G. Gomes ...................... 10,444,437
Paul J. Hough .......................... 10,319,533
Woong Joseph Kim ..................... 13,174,44

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| 5391 views | | 17 replies (last January 31, 2023) | Reply
Post ID: @OP+1fUoazOb

17 replies (most recent on top)

Sadly, this type of economic disparity has always existed, you just never saw it on full display when it was BAU.

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Post ID: @53pej+1fUoazOb

For the rank and file employees, how should we feel now that the 2022 VCIP is in the bank? Looks like a joke at 53% target less taxes and personal deductions right?

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Post ID: @53mqo+1fUoazOb

That takes the f*cking cake. What a pile of *ssholes. To my team mates, I apologize in advance for the work that I will be half-heartedly doing from now until when I am laid off or leave of my own accord. Thankfully, I can exploit Agile and just make up stories that my manager and even my team mates who work in their own little silos cannot comprehend, then, massively inflate the story points estimate, then complete the work in a few hours and then train up and job hunt for 90% of each sprint. I didn't used to be like this, they've turned me into this person.

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Post ID: @6jnf+1fUoazOb

How can ELT look at themselves in the mirror. I will certainly never join a company where I see their name. All cowards, all sc-m, back stabbing assh*les!

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Post ID: @5zsf+1fUoazOb

Why the CFO who worked since March, gets $3.5m??? Buddy of Calderoni?

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Post ID: @5ytp+1fUoazOb

If you would like to know what 'class warfare' is, this is an example. Hint: 'they' are winning, none of us are 'them'.

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Post ID: @5zjy+1fUoazOb

They destroyed the company, why should they stay?

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Post ID: @5yca+1fUoazOb

When I Leeds through this report I think, “Is this how much someone’s integrity costs? Is this how much it takes to be comfortable with thousands of people despising me?” Maybe the answers are somewhere in those payoffs.

The other prevailing thought is the reality, and inevitability, of being laid off. Because the day the sale is complete a lot more people than just Bobby Knuckles, Tony the Gnome, Dimmel, Joke-im, and the rest of the Citrix millionaires club will be hitting the bricks.

If you are not actively engaged in searching for new employment — get going RIGHT NOW. It usually takes a few months to get an offer — best case — so please start with whatever your first step is today. Do not delay.

If you have started your search, or if you’ve found something new — help someone who’s behind you. The Citrites I’ve worked with over the many years measure value in their self worth, and their integrity — not a golden PRSU payoff. Do what’s right, and what’s better, and leave the disgusting, self serving existence to the Citrix millionaires club.

Last word… we own the world we built, not them. They wouldn’t know how to plug in a server, let alone build something that innovates the incredible world that you and I helped build. There will come a day when we all have to settle up, and dollar bills aren’t the currency needed for peace. Sure, they might be spending the rest of their days on a series of fabulous Hawaiian golf vacations… but they will have found their way their, bought their plane tickets, or electronically keeping track of their extravagantly horrible golf handicap with the applications and technology that WE provide to them. We own the world — not them. I’m out (mic drop)

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Post ID: @2sfn+1fUoazOb

What an absolute disgrace

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Post ID: @1wbh+1fUoazOb

It's like they're winning the Florida state lottery.

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Post ID: @1ijm+1fUoazOb

Who will run the company? Citrix was supposed to be the dominant culture according to the All hands. The ELT acted like they would be there after merger.

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Post ID: @1scm+1fUoazOb

Money well spent! :facepalm:

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Post ID: @1pqo+1fUoazOb

Yes. According to page 56 each executive officer’s employment is terminated immediately following the merger

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Post ID: @lvd+1fUoazOb

And if reading the doc correctly, all ELT will be let go at merger?

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Post ID: @riy+1fUoazOb

Congrats to all.

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Post ID: @rnm+1fUoazOb

Donna is way over paid! She is so out of touch. Citrix’s culture has been a nightmare for years and she does nothing. Does she work? Citrix has one of the worst cultures I have seen.

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Post ID: @coi+1fUoazOb

Donna N. Kimmel.. What a f*cking buffoon. One of the most tone deaf and out of touch people I've ever met.

I always shook my head when she was strutting around HQ. Wearing more money in clothing, accessories, and handbags than many people made in a month.

Who the f*ck wears $1k ferragamo heels to work at a company like ours?

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Post ID: @wjl+1fUoazOb

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