New Tableau CEO: $1 Million Signing Bonus & Compensation Plan Details
So, how much does it take to pry top talent away from Amazon Web Services? In the case of Tableau Software, the big data and analytics company will pay new CEO Adam Selipsky a $1 million signing bonus along with other key compensastion perks, according to an SEC filing.
A well-known AWS veteran, Selipsky’s overall Tableau compensation package also includes:
- an annual base salary of $500,000;
- eligibility for an annual incentive bonus in an amount up to 100% of his base salary, which will be pro-rated for calendar year 2016.
- Restricted stock units covering a number of shares of the Company’s Class A common stock equal to (x) $14.0 million divided by (y) the trailing average closing sales price of the Company’s Class A common stock from August 15, 2016 through September 15, 2016, rounded up to the nearest whole share, and (ii) options to purchase 75,000 shares of the Company’s Class A common stock, each of which will vest over a four-year period.
The stock package is still subject to the final approval of Tableau’s Compensation Committee of the Board and the commencement of his employment, the filing says. Selipsky is scheduled to join the company on Sept. 16, 2016.
Tableau CEO Golden Parachute
If Selipsky’s employment is terminated by Tableau other than for cause or he resigns for good reason within the four-year period following the start date, then he would be entitled to:
- Continuation of his base salary at the rate in effect immediately prior to the termination date for 18 months following the termination date;
- a lump sum payment equal to this target bonus for the year of his termination,
- payment of his COBRA premiums for up to 18 months following the termination date; and
- twelve months’ worth of accelerated vesting under his then-outstanding equity awards.
Those perks are subject to a range of additional requirements.