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.
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.
|EXPE||EXPEDIA GROUP, INC.||176.26||+5.80||+3.40%|
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.
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.
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.