Yahoo CEO Marissa Mayer could get a huge payday after Verizon closes its pending Yahoo acquisition.
She stands to collect $44 million if terminated within a year of the deal being finalized, according to a Yahoo regulatory filing on Friday.
Mayer’s golden parachute, as such payouts are often called, includes $41 million in stock options and restricted stock, the equivalent of a $1 million annual salary, a $2 million bonus, and medical benefits. The total value is based on Yahoo’s share price of $38.59, and could change depending on the date she is terminated.
In July, telecom giant Verizon won a $4.8 billion bidding war for Yahoo, which has struggled for years while rivals like Facebook and Google sprinted ahead. Mayer, who has spent four years at Yahoo’s helm, had promised to revive Yahoo, but her turnaround plan failed to make much progress.
Mayer had previously been eligible for a nearly $55 million severance package following a takeover, according to a Yahoo filing in July. By another calculation, she may have made as much as $123 million.
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Mayer has said that she planned to stay on at Yahoo at least through the acquisition’s closing. Beyond that, she has not publicly commented, although top executives often leave after companies they lead are acquired.
