Yahoo's (YHOO) New Board Member Max Levchin will Receive $80K and 6,577 RSUs
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PayPal Mafia member Max Levchin will be receive a retainer of $80,000 per year for service on the Board of Directors of Yahoo! (NASDAQ: YHOO). In addition, Mr. Levchin automatically received a grant of 6,577 restricted stock units (RSUs).
On December 11, Mr. Levchin was appointed to serve to serve as a director of the Company, effective immediately. The Board also appointed Mr. Levchin to serve as a member of the Board's Transactions Committee. Mr. Levchin was mutually agreed upon by the Board and Daniel S. Loeb in accordance with the Settlement Agreement entered into on May 13, 2012. The Settlement Agreement provided that the Board and Mr. Loeb would identify and mutually agree upon another director to bring additional technological and product experience to the Board.
On December 11, Mr. Levchin was appointed to serve to serve as a director of the Company, effective immediately. The Board also appointed Mr. Levchin to serve as a member of the Board's Transactions Committee. Mr. Levchin was mutually agreed upon by the Board and Daniel S. Loeb in accordance with the Settlement Agreement entered into on May 13, 2012. The Settlement Agreement provided that the Board and Mr. Loeb would identify and mutually agree upon another director to bring additional technological and product experience to the Board.
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