Federico Pignatelli
Ever heard of a CEO whose annual salary is only a dollar? This is no secret to me considering that I recently read an article on well known CEOs in the tech industry with this kind of salary. They may have this kind of salary but people know that they are not CEOs if they do not get something big in return, right?
Who would be stupid to do something like that? The secret lies in stocks. A dollar is nothing compared to the stocks that CEOs own. While Federico Pignatelli purposely lowered his salary to a dollar annually to at least counter what had been a tumultuous year, he does own stocks.
He was recently awarded 35,000 stock options in lieu of payment, as well as $50,000 in out of pocket legal expenses. The CEO is also the largest individual shareholder in the company by far, with just over 1.5 million, approximately 6% of the total stock.
Well, that is that. An annual salary of a dollar every year does not hurt his financial status considering the shares he owns in the company.
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