Airbnb CEO’s 10-Year Pay Package Could Turn Into $1 Billion or More
Photo Credit: Airbnb CEO Brian Chesky speaking with Skift CEO Rafat Ali At Skift Global Forum in September 2022. Source: Skift Skift
Skift Take
The net proceeds of Brian Chesky's 10-year pay package — which he said would be donated to host programs and to charities — would really soar if Airbnb's share price breaches tough-to-reach targets.
Airbnb turned heads in 2021 when it announced chairman and CEO Brian Chesky had been awarded a $120 million pay package the previous year that potentially included earning 12 million restricted stock units over the following decade.
The $120 million figure was for accounting purposes. However, the fair value of those stock units was estimated to be $430 million on the grant date of November 10, 2020, when then-privately held Airbnb's share price was $35.81.
But that was a month before the Airbnb IPO. By year's end 2020, the stock traded above $145.
It may turn out that the 10-year package for Chesky could soar to $1 billion or more if Airbnb's share price hits certain price targets during each of the 10 years, and he remains CEO.
$1.3 Billion Value for 2023-2030In a proxy statement issued late last month that included its executive pay figures, Airbnb noted that the potential value of Chesky's eight remaining tranches of unearned shar
