Former Expedia CEO Mark Okerstrom’s payout could be near $12M
Former Expedia Group CEO, Mark Okerstrom, who was forced out by the company’s board of directors earlier this month over a strategizing disagreement is likely to leave with a generous payout, according to a report from the Skift on Thursday.
The news website’s research team estimated that Okerstrom’s exit package could be worth about $11.8 million at the time of his resignation, Dec. 4.
This amount includes $1.75 million in cash, $5.73 million in restricted stock units and nearly $4.3 million in stock options.
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However, if the Seattle-based travel booking site’s stock remains around its dropped value of $105 per share, Okerstrom could make out with an intrinsic package of $7.6 million, according to the Skift.
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This payout is significantly less than Expedia’s previous CEO, Dara Khosrowshahi, who took home an estimated $160 to $200 million in unvested compensation at the time of his resignation in 2017.
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Though, it’s important to note that Khosrowshahi left Expedia voluntarily after running the company successfully for 12 years while Okerstrom was ousted after two years over underperformance.
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Okerstrom compensation package included more than 400,000 stock options, according to the Skift. If Expedia’s stock had leveled out at its 52-week high of $144 per share, the publication said Okerstrom’s package would have been worth around $18.3 million.