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this post was submitted on 24 Feb 2024
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They might have been able to turn a profit, but apparently u/Spez (fucking dipshit) collects over 190million in CEO compensation.
Yeah, I saw that article too but it's misleading. According to the S1 filed with the SEC, spez's current base pay is $450,000; in 2023 he received about $792,000 in performance-based cash bonus. The rest of that 193 million is options. It's not the reason reddit isn't profitable.
Could you elaborate on that for someone who has no clue about stock market stuff?
He's mostly being paid in something that has potential value that he won't be allowed to sell in large enough quantities to have any real value.