Chapter can get more than $2.5 billion

The rise of the cryptocurrency market has led to the fact that the issued to the general director of the exchange Justin Hance compensation package last year could become one of the largest in the Australian corporate world.

Armstrong could earn more than $2.5 billion, which translates into more than $1 million for every working day over the next decade. The management of startups usually motivates the need for such a generous reward by the desire to retain the founders, although even without this, the value of their shares can reach billions of dollars. Similar packages were received by CEO Palantir Technologies Inc. Alex Karp, who may become the owner of an equity reward of more than $1.3 billion over the next ten years, and CEO of Snowflake Inc. Frank Slotman, whose payout is estimated at $65 million per month for four years. declined to comment on the earnings of Justin Hance. In the registration application dated May 15, the company writes that if the goals are met, he will receive extremely verified and properly agreed with shareholders compensation. After a loss-making 2020, the exchange made $792 million in profit the year before last.

Justin Hance founded in 2017 and in August 2021, he received 8.1 million options corresponding to approximately 3.4% of the shares available for circulation. The exercise price of the option was set at $21.39, which, according to the Board of Directors, became a fair valuation of the company’s shares at the time.

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