Does anyone know how the retention program mentioned in the proxy is being implemented or whether it has been finalized and already put in motion? I'm especially curious given that in today's GEM the executives didn't give any specifics surrounding the retention plan. It's interesting that this is the stance adopted when apparently there is a $20 million program that can be used to retain "unspecified Citrix employees".
Source: Proxy filed on 03/16/2022 (https://otp.tools.investis.com/clients/us/citrix/SEC/sec-show.aspx?FilingId=15663764&Cik=0000877890&Type=PDF&hasPdf=1)
On January 29 and 30, 2022, representatives of each of Citrix, Vista, Elliott, Goodwin, Kirkland and Gibson Dunn exchanged drafts of, and had multiple conference calls to discuss and resolve the open items in, the Merger Agreement, the Voting Agreement, the Financing Commitment Letters, the Guarantees, and related documentation. In addition, Citrix made its first communications to Vista and Elliott regarding proposals for the Company’s annual compensation cycle adjustments for non-executive employees scheduled in the ordinary course for March 2022 and a $20.0 million retention bonus program for unspecified Citrix employees. The parties determined to defer further discussion of these items until after the execution of the Merger Agreement and no agreements with respect to these matters were included in the Merger Agreement.