{"id":253754,"date":"2021-05-19T21:13:00","date_gmt":"2021-05-19T18:13:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/nikola-granted-performance-awards-valued-at-567-million-to-executives-last-year\/"},"modified":"2021-05-19T21:13:00","modified_gmt":"2021-05-19T18:13:00","slug":"nikola-granted-performance-awards-valued-at-567-million-to-executives-last-year","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/nikola-granted-performance-awards-valued-at-567-million-to-executives-last-year\/","title":{"rendered":"#\n  Nikola granted \u2018performance\u2019 awards valued at $567 million to executives last year"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3e2dcdd8e74\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3e2dcdd8e74\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/nikola-granted-performance-awards-valued-at-567-million-to-executives-last-year\/#Ex-Chairman_Trevor_Milton_CEO_Mark_Russell_both_received_stock_awards_valued_at_159_million_in_2020\" >Ex-Chairman Trevor Milton, CEO Mark Russell both received stock awards valued at $159 million in 2020<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/nikola-granted-performance-awards-valued-at-567-million-to-executives-last-year\/#Tomi_Kilgore\" >Tomi Kilgore<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#<br \/>\n  Nikola granted \u2018performance\u2019 awards valued at $567 million to executives last year<br \/>\n<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"Ex-Chairman_Trevor_Milton_CEO_Mark_Russell_both_received_stock_awards_valued_at_159_million_in_2020\"><\/span>\n  Ex-Chairman Trevor Milton, CEO Mark Russell both received stock awards valued at $159 million in 2020<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\">\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000274985\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       Nikola Corp. disclosed Wednesday that it granted stock awards to executives in 2020 with a combined value of about $567 million, intended as an \u201cincentive for future performance.\u201d<\/p>\n<p> The awards included $159.0 million worth of stock to Founder Trevor Milton, who shocked investors when he resigned as executive chairman in September 2020, as the electric truck maker faced regulatory probes amid short-seller claims that Milton made numerous false statements.<\/p>\n<div class=\"paywall\">\n       In the 2020 proxy statement filed with the Securities and Exchange Commission, Nikola said Chief Executive Mark Russell\u2019s total compensation in 2020 was $159.20 million, up from $6.56 million in 2019. The 2020 compensation included a base salary of $173,077 and stock awards of $159.03 million, compared with a salary of $250,866 and option awards valued at $6.31 million a year ago.<\/p>\n<p>The company<br \/>\n        NKLA,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/208704275\/composite\" class=\"negative\">-6.84%<\/bg-quote><br \/>\n       also recorded stock awards valued at $84.80 million to Chief Financial Officer Kim Brady; $31.47 million to Pablo Koziner, president of energy and commercial; $79.47 million to Chief Legal Officer Britton Worthen; and $52.99 million to Joseph Pike, chief human resources officer.<\/p>\n<p>The payouts were made in a year in which <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/nikolamotor.com\/press_releases\/nikola-and-vectoiq-acquisition-corp-announce-closing-of-business-combination-77\" class=\"icon none\">Nikola went public in June<\/a> after a merger with special-purpose acquisition company (SPAC), or \u201cblank check company\u201d VectoIQ Acquisition Corp., the company announced a $2.0 billion equity investment by <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">General<\/a> Motors Co.<br \/>\n        GM,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/205226835\/composite\" class=\"negative\">-1.38%<\/bg-quote><br \/>\n       and Milton\u2019s resignation in September, and then a scaled-back deal with GM in November.<\/p>\n<p>The company recorded a net loss that widened to $397.7 million on revenue that dropped to $95,000 in 2020, after a loss of $105.5 million on revenue of $482,000 in 2019.<\/p>\n<p>In the 2020 proxy, the company said the stock awards represented the fair value of restricted stock unit awards and market-based performance restricted stock unit awards computed as of the grant date of the awards, rather than amounts paid to the individual.<\/p>\n<p>The grant dates for the awards for Russell, Milton, Brady, Worthen and Pike were all June 3, the day the merger with VectoIQ was completed. For Koziner, the grant dates were Aug. 17 and Dec. 22.<\/p>\n<p>\u201cThe one-time 2020 Performance Award is intended to compensate our named executive officers over its three-year term and will become vested as to all shares subject to it only if our share price increases to $55 during the three-year performance period,\u201d the company said. \u201cThis award was designed to be an incentive for future performance that would take many years, if at all, to be achieved,\u201d the company added.<\/p>\n<div data-layout=\"inline\n                \" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetMediaIllustration\n            inline\n  article__inset\n          article__inset--type-InsetMediaIllustration\n            article__inset--inline\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        renoImageFormat-\n        img-inline\n        article__inset__image\n      \" itemscope itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<div style=\"padding-bottom:69.375%;\" data-mobile-ratio=\"69.375%\" data-layout-ratio=\"69.375%\" data-subtype=\"photo\" class=\"image-container  responsive-media article__inset__image__image\">\n        <img decoding=\"async\" srcset=\"https:\/\/images.mktw.net\/im-340619?width=140&amp;size=1.4414414414414414 140w,\nhttps:\/\/images.mktw.net\/im-340619?width=540&amp;size=1.4414414414414414 540w,\nhttps:\/\/images.mktw.net\/im-340619?width=620&amp;size=1.4414414414414414 620w,\nhttps:\/\/images.mktw.net\/im-340619?width=700&amp;size=1.4414414414414414 700w,\nhttps:\/\/images.mktw.net\/im-340619?width=860&amp;size=1.4414414414414414 860w,\nhttps:\/\/images.mktw.net\/im-340619?width=1260&amp;size=1.4414414414414414 1260w\" sizes=\"(max-width: 140px) 100px,\n(max-width: 540px) 500px,\n(max-width: 620px) 580px,\n(max-width: 700px) 660px,\n(max-width: 860px) 820px,\n1260px\" src=\"https:\/\/images.mktw.net\/im-340619?width=620&amp;size=1.4414414414414414\" data-enlarge=\"https:\/\/images.mktw.net\/im-340619?width=1260&amp;size=1.4414414414414414\" alt=\"\" title=\"\"><\/div><figcaption class=\"wsj-article-caption article__inset__image__caption\" itemprop=\"caption\"><span class=\"wsj-article-credit article__inset__image__caption__credit\" itemprop=\"creator\"><br \/>\n            FactSet, MarketWatch<br \/>\n          <\/span><br \/>\n  <\/figcaption><\/figure>\n<\/div>\n<p>       For Milton\u2019s award, the company said it had entered into a separation agreement which resulted in a modification of his time-based restricted stock units, and cancellation of all market-based performance restricted stock units.<\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>Since Nikola went public, the stock rose to a closing high of $79.73 on June 9, 2020, then tumbled to close out 2020 at $15.26. The stock fell 5.5% in morning trading Wednesday, giving Nikola a market capitalization of $5.12 billion. It has shed 14.8% so far this year, and has traded with in a closing range of $28.58 on Jan. 27 and $9.65 on April 20.<\/p>\n<p>In comparison, EV leader Tesla Inc.\u2019s stock<br \/>\n        TSLA,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/203558040\/composite\" class=\"negative\">-3.69%<\/bg-quote><br \/>\n       has tumbled 22.2% in 2020 and the S&amp;P 500 index<br \/>\n        SPX,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210599714\/realtime\" class=\"negative\">-1.05%<\/bg-quote><br \/>\n       has gained 8.6%.<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>      <span>By<\/span><\/p>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Tomi Kilgore\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Tomi_Kilgore\"><\/span>Tomi Kilgore<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B20C05575-04D4-B545-7432-2914D685DF6F%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Nikola granted \u2018performance\u2019 awards valued at $567 million to executives last year &#8221; Ex-Chairman Trevor Milton, CEO Mark Russell both received stock awards valued at $159 million in 2020 Nikola Corp. disclosed Wednesday that it granted stock awards to executives in 2020 with a combined value of about $567 million, intended as an \u201cincentive&#8230;<\/p>\n","protected":false},"author":1,"featured_media":253755,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-253754","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/253754","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=253754"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/253754\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/253755"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=253754"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=253754"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=253754"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}