Mary “Margo” Margaret H. Georgiadis, Groupon’s former COO, walked away from nearly $25 million in stock awards in order to become president/Americas at Google, according to an SEC filing.
Georgiadis was only at Groupon for five months in 2011. Nonetheless, that still made her the highest-paid person, on paper, during fiscal 2011. Her compensation package was worth $27.3 million, mostly in restricted stock. However, a footnote in the filing explains that she never received the stock the company agreed to pay her.By resigning, the vast majority of that stock—worth about $24.6 million at $12.29/share, at the time—was forfeited.
When Georgiadis signed on with Groupon she was given 2.2 million restricted stock units, worth a little more than $27 million. Of that, 600,000 units vested immediately. By resigning, she forfeited 400,000 units and the rest never came due.
At $12.29 each, the shares she kept were worth about $2.5 million. She also had a salary of $220,833. The remaining stock—about $24 million worth—went up in smoke.
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