Marissa Mayer will make over $44 million if Verizon fires her

One of the big questions about Verizon’s pending purchase of Yahoo is if Yahoo CEO Marissa Mayer will find a role in the telecom company.

But if she doesn’t, she could stand to make over $44 million, according to an document filed with the SEC on Friday afternoon.

If the Verizon-Yahoo deal is finalized, Mayer will be covered by a severance plan for one year after the Yahoo sale closes.

She’ll receive:

    One year of salaryHer annual target bonusSome money to cover medical premiumsThe option to exercise any vested stock options for 6 months after she is terminated.

All that comes out to about $3 million – $1 million in salary and $2 million in bonuses.

But where Mayer will really cash in is through her “golden parachute compensation,” which indicates Mayer would receive $40.9 million in equity.

That’s the amount of unvested Yahoo stock options and RSUs Mayer can collect if she’s terminated, multiplied by $38.59, or the price of Yahoo shortly after the transaction was announced.

Whether Mayer is on her way out is unclear. Recode previously reported that Mayer “would likely go after the deal is officially struck in six to nine months,” which is firmly within the one-year window that would allow Mayer to collect her golden parachute.

Her compensation can change based on the exact date that Mayer leaves Yahoo. Earlier this year, another Yahoo SEC document suggested her golden parachute was worth $54.9 million.

Here is the table:

source
SEC