Q: Can you comment of report that SHOP CEO is up for a $200m stock bonus? The Globe mentions it may be based on performance of the stock price itself. Does the CEO need this type of incentive considering he already owns 40% of the company?
5i Research Answer:
There is not much to add here; compensation is approved by a committee of board members and shareholders. He certainly does not 'need' more shares as he controls the company through a super-voting share. While it is the biggest compensation package in Canada, it is not if one considers US companies. But the options were granted a month ago, and this should be old news. Also with a 75% one-year stock gain most analysts would have accounted for this in their numbers already.