[icebraining]

Where does that number come from? I see the NYT reporting that he got a "golden parachute" of that amount, but they give no source. The WSJ says he sold 55M in stock he owned, which is quite different from an exit payout.

[oftenbanned]

Well you could be right. His stock comp for 2013 was $40m. That was the scrappy year.

The point is that instead of cutting the travel and entertainment budget for the whole company it would have been a lot more effective to simply show Pichette the door.

[icebraining]

"Target Value of Equity Awards Granted in 2013 (in millions)"

"Patrick Pichette: 1.5"

https://www.sec.gov/Archives/edgar/data/1288776/000130817914...

[oftenbanned]

http://yahoo.brand.edgar-online.com/efxapi/EFX_dll/EDGARpro....

40m in fiscal 2014. This also contains the answer you previously wanted:

“Upon Patrick and Omid’s respective departures, all of their outstanding equity was cancelled and we made cash payments equal to the value of their unvested biennial equity grants, prorated for the time between the grant date and the cancellation date. The payments equaled $56.2 million to Patrick and $16.3 million to Omid.“

Vesting schedules are for peons. For executives, unvested shares are converted to cash when you quit! Amazing!