Yes, its all crap, i feel like calling the Jackson character and telling him what an idiot he is, and he has no idea on creating shareholder value and proper incentives. You can find any idiot that has no idea that will say something negative about any executive incentive package.
I did some quick calcs, and if we take $25.40 as the starting point, then for Bundey's options to be worth anything in year 1 he needs to create an 18% return, then for yr 2 a further 16% return, and then for yr 3 when a lot more options vest a further 14% return, or a 57% return over 3 years. I'm happy to pay the Chairman of a $5 bn company, $8 m if that amount of value is created for shareholders (or about $3 bn).
MIN Price at posting:
$24.08 Sentiment: Buy Disclosure: Held
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