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Palantir CEO Karp earned $1.1 billion in 2020, tied to fairness awards – Information by Automobilnews.eu

Palantir CEO Karp earned $1.1 billion in 2020, tied to fairness awards


Alex Karp, CEO of Palantir arrives forward of a “Tech For Good” meetup at Lodge Marigny in Paris on Might 15, 2019, held to debate good conduct for know-how giants.

Bertrand Guay | AFP | Getty Pictures

Palantir CEO Alex Karp earned compensation value about $1.1 billion in 2020, primarily via fairness awards granted shortly earlier than his software program firm went public.

In a proxy submitting on Thursday, Palantir stated the majority of Karp’s pay was tied to choices value $797.9 million, with one other $296.4 million for inventory awards. The outsized bundle is the results of an fairness incentive plan agreed upon final yr, giving Karp 141 million choices that start vesting in August 2021. Every quarter, 2.5 % of the fairness will vest.

Karp’s 2020 pay was up from $12 million a yr earlier. Along with inventory awards, he earned a wage of $1.1 million, and different compensation, together with tax recommendation, private safety and use of chartered plane, totaling $3.1 million.

Karp, 53, co-founded Palantir in 2003 together with Peter Thiel and others to offer knowledge analytics instruments and providers to the intelligence neighborhood. The corporate expanded whereas providing little visibility into its enterprise, till going public through direct itemizing in September at a valuation of over $15 billion. After debuting at $9.50 a share, the inventory soared previous $35 in January, earlier than dropping over the subsequent few months. It closed on Thursday at $23.37.

Whereas Palantir was for many of its life primarily based in Palo Alto, California, Karp made some extent within the prospectus of ripping Silicon Valley for producing companies that promote our “ideas and inclinations, behaviors and shopping habits.” Across the similar time, the corporate introduced plans to transfer its headquarters from Palo Alto to Colorado, a state that has considerably decrease revenue taxes.

On the time of the New York Inventory Trade itemizing, Karp owned about $1 billion value of Palantir inventory. He is since offered about $350 million value at share costs starting from $9.10 to $31.59, based on SEC filings.

Stephen Cohen, Palantir’s president, noticed the worth of his compensation bounce from $16 million in 2019 to $192 million final yr attributable to fairness awards granted in August. Chief Working Officer Shyam Sankar obtained whole compensation value $102 million in 2020, up from $26 million the prior yr.

For all three high executives, the earn out will come over time. Choices for Cohen and Sankar vest at 5% 1 / 4 beginning in August. Palantir stated that the values ascribed to the 2020 awards are primarily based on guidelines of the Monetary Accounting Requirements Board.

“These quantities don’t essentially correspond to the precise worth acknowledged or that could be acknowledged by the chief officers,” the submitting stated.

A Palantir consultant declined to remark.

WATCH: Palantir CEO on this for the lengthy haul

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Palantir CEO Karp earned $1.1 billion in 2020, tied to fairness awards – Information by Automobilnews.eu
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