Hammergren’s change-in-control package, combined with $289 million more in company stock and options he already owns, would bring his total kitty in the event of a termination to $581 million on paper—a figure based on valuations as of March 31.
“They shouldn’t continue to give lavish giveaways of unearned money to executives on their way out the door,” Gray says. “They should think more about taking care of their associates.”