Here’s an amusing story found in Wall Street Journal‘s “Overheard” column, on the final page of the C-section in the paper version…
When Sanjay Jha, currently the CEO of Motorola, joined the company in 2008 he received $100 million in stock options. But the deal is for Motorola stock trading at $9.82. Now that it’s trading at ~$6.84, most of his options are underwater (so he wouldn’t want to exercise the underwater stock options because he’d be paying more for the shares than their current market price).
Jha took home only $3.2 million in 2009.
To poke fun at this terrible turn of events, his ringtone is apparently set to “Carmina Burana,” a choral work sung by medieval monks who lament the reversal of fortune.
You know the song. Take a listen:
Of course it’s possible that Jha is very seriously upset and a choir of empathetic monks soothes him (Motorola did have pretty massive problems from 2008 until later last year), but we think he just has a sense of humour.
After all, he really just has to wait until next year, when Motorola splits. Jha will take over the company’s entertainment and consumer-oriented devices, including smart phones like the Droid. He’ll own between 1.8% and 3% of the business.