Yahoo (YHOO) just disclosed the size of its executive pay packages and Marissa Mayer stands to make millions coming or going.
The CEO of the embattled online news site, currently in discussions of selling itself, is entitled for severance benefits valued at $54.9 million in the case of her being terminated without cause, according to a regulatory filing provided after the market closed Friday. The potential payout would also be triggered by a “change of control,” which includes the sale of the company, according to the filing.
Mayer’s potential payout includes cash severance of $3 million, continuation of health benefits of $26,324, outplacement benefits of $15,000, and an acceleration of vesting of restricted stock and options worth nearly $52 million.
That’s just the payment if Mayer leaves. Mayer was already paid $36 million in 2015 as her regular annual compensation. That total pay package was down nearly 15% from the prior year, but is still well above the median of roughly $12 million paid by executives in the Standard & Poor’s 500. Mayer was paid $42.1 million in 2014, making her the most highly paid female CEO in the S&P 500.
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SOURCE: USA Today, Matt Krantz