When the company goes public, Spiegel will receive an award of 3% of the stock as CEO which will be valued at up to $588 million. Spiegel’s base salary will be reduced to $1 when the IPO is registered, and his bonus (up to an annual $1 million) will be based on the company performing well. This prospective bonus will put him at double his previous salary of $500 thousand, According to their filings, Murphy was only making $250 thousand as of December 31st. It remains to be seen how the new contract will address this difference. Aside from Spiegel and Murphy, other individual stakeholders include board member Mitch Lasky, who will make up to $171 million from 10.7 million shares, and chairman of the board Michael Lynton, who can make nearly $900k from selling around 55k shares. The venture capital firms who were early investors are also reaping their rewards for their intelligent insights. Lightspeed Partners stands to make up to $74 million from selling 4.6 million shares, while General Catalyst can make up to $9 million with around 550k shares.
