It became obvious that Weiner had divided his cash up after LinkedIn failed to file a compensation form to the US Securities and Exchange Commission for Weiner and his massive stock bonus.
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Jeff Weiner, however, is not the only CEO to show generosity to its employees.
“Jeff did not receive an equity package this year at his request”, said a LinkedIn spokesperson. The move meant to boost the morale of LinkedIn’s employees, as the company posted disappointing results for the first quarter of its financial year.
Joe Roualdes, a spokesman for LinkedIn, told Money magazine, “Jeff chose to ask the Compensation Committee to forgo his annual equity grant, and to instead put those shares back in the pool for LinkedIn employees”. The reason? LinkedIn’s stock value took a beating following its earnings report in February and Weiner now wants to boost the morale of his staff and keep them within the company.
Weiner had received stock awards worth $10.2 million and option awards worth $3.2 million for the year ended December 31, 2014.
Weiner is hardly the only chief executive of a struggling tech company to delve into his own earnings to try to appease anxious employees.
Mr. Weiner owns 105,924 shares and 480,000 vested shares that has combined net worth of $70.2 million.
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Jack Dorsey, the CEO and cofounder of Twitter, announced in October that he would give one-third of his sizable stake in the company back to employees in order to “reinvest directly in our people”. And we think its stock price has almost unlimited room to run for early in-the-know investors! Shares of the company fell as much as 44% immediately following the earnings call, while the stock is now down by roughly 50% from its January levels.
