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Snap Chief Earns $638 Million In 2017, Third-Highest CEO Payout Ever

22 February, 2018 6:18 PM
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Snap Chief Earns $638 Million In 2017, Third-Highest CEO Payout Ever

Snap Inc Chief Executive Officer Evan Spiegel received $637.8 million as total compensation as the company went public last year, the third-highest annual payout ever received by a company's chief executive.

Mr Spiegel's payout trails the 2007 and 2008 compensations of Daniel Och, CEO of hedge fund Och-Ziff Capital Management Group, according to ISS Analytics, the data arm of Institutional Shareholder Services Inc.

Mr Och received $918.9 million and $1.19 billion as annual compensation for fiscal years 2007 and 2008.

Mr Spiegel's compensation is based on stock-based awards worth $636.6 million and salary and other compensation worth about $1.2 million, according to a security filing by Snap on Thursday.

"I believe this is the largest value we have seen in the 10 years we've been compiling annual 'highest-paid' CEO studies," said Dan Marcec, Director of Content at executive compensation data firm Equilar.

Shares of Snap only recovered to its IPO price of $18 in the first week of February, having traded below it since July.

Source: ndtv.com

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