That headline has been linked everywhere so of course it's untrue. a) He received an large bonus and b) his increased salary is still half of NVIDIA's CEO.
"Huffman in 2023 got a salary of $341,346, which is relatively low for a CEO of a major public corporation. In February, this was raised to $550,000. He also got a $792,000 bonus last year based on Reddit's user numbers, revenue, and a type of profitability known as adjusted EBITDA that excludes certain expenses."
I think the often-quoted amount that huffmann is going to be paid includes stock he owns (will own?), with its valuation based on the targeted IPO price. I don't think he's getting paid an absurd amount of cash right now.
It's in his interest to have a small cash compensation though since long-term capital gains tax is smaller than income tax. Also, he can always take a loan against his stock to get liquidity without triggering income tax.
Looking at their SEC filing [1], the CEO compensation breaks down into ~$1mil of cash and ~$192mil roughly split between stock and options. Both the stock and options appear to have further conditions attached to them that reduce that number further.
I'm not even a fake accountant, so I don't understand the exact nature of the dilution, but the $193mil overall number seems to assume a lot of stuff goes extremely well in the IPO. I think the stock number assumes a stock price of ~$33.
"Huffman in 2023 got a salary of $341,346, which is relatively low for a CEO of a major public corporation. In February, this was raised to $550,000. He also got a $792,000 bonus last year based on Reddit's user numbers, revenue, and a type of profitability known as adjusted EBITDA that excludes certain expenses."
https://www.businessinsider.com/reddit-ceo-steve-huffman-def...