Yahoo's Marissa Mayer to Make $186 Million From Verizon Deal

Bloomberg News  Landov

On June 8, Yahoo shareholders will vote on whether to sell off Yahoo's web assets to Verizon, a deal almost a year in the making, according to a proxy statement Yahoo filed with the S.E.C. on Monday. That deal is expected to close in June, after months of delays following Yahoo's disclosure of two massive security breaches.

Yahoo investors are set to vote on the deal this June. The measure is expected to pass. Mayer, along with other Yahoo execs, will receive accelerated vesting of all stock options and other equity awards under the terms of the Verizon sale.

Her $186 million in Yahoo stock, stock options and restricted stock units are based on Monday's stock price of $48.15, according to data filed on Monday in the documents sent to shareholders about the Verizon deal. By and large, her time at Yahoo will have gotten her well over $200 million, as per counts in light of organisation filings.

Most of Mayer's payout is based on the 208 percent increase in Yahoo's stock price since she left Google for Yahoo in 2012.

Separate from Mayer's stock holdings, under the previously disclosed severance agreement with Yahoo she would receive $3 million in cash and is eligible for $15,000 worth of outplacement services if she is terminated or leaves for good cause following the Verizon sale.

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That pay, which will be completely vested at the season of the shareholder vote, does exclude her compensation and rewards in the course of recent years, or the estimation of other stock that Ms Mayer has officially sold.

Supporters and critics alike say Ms. Mayer took on a steep challenge with Yahoo, but her managerial mistakes, including not cutting costs quickly enough, complicated the already tricky turnaround.

The security incidents forced Yahoo back to the negotiating table, and the two companies said in February they had agreed to knock off $350 million off the price.

An investigation into the data breaches found that Yahoo executives didn't "properly comprehend or investigate" the attacks.

Last month, USA officials indicted four Russians, including two Russian spies, in the 2014 hack.

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