Snowflake CEO Frank Slootman could make $1.1 billion in stock options annually
Snowflake Inc., a cloud-based data-warehouse company with a market cap over $100 billion, is giving its CEO Frank Slootman over $1 billion per year in stock options based upon the current stock price, per Bloomberg.
Slootman gets monthly stock options in addition to his $375,000 annual salary. As such, his pay can fluctuate greatly, assuming he cashes out on his stock options, based upon the share price of Snowflake. When the stock price is riding high, Slootman can make more than a fortune.
As of Friday morning, Snowflake's stock price stands around $380 per share meaning the CEO will bring in about $95 million per month in stock options at the current stock price and about $4.5 billion over the next four years.
Chief Financial Officer Michael Scarpelli is also being given monthly options worth around $25 million based upon the current stock price.
Despite the hefty compensation packages for the executives at Snowflake, the company has yet to make a profit.
In the last 12 months, the company reported an operating loss of $428.7 million. The entire operating expenses for the business in 2019 stood at $230 million, far less in value than Slootman's executive compensation package.
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About Ryan Lipton:
Ryan is a student at the University of North Carolina at Chapel Hill majoring in Business Journalism. He has written in the past for SB Nation's Silver and Black Pride, USA Today Sports Media Group, North Carolina Business News Wire, the Daily Tar Heel, and has worked with Ice Cube's BIG3 basketball league.
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