stock grants

Truck Talk: Cost of change edition

This week, we look at the costs associated with changing corporate captains; tiremakers rolling into trucking autonomy and electrification, and static-free AM/FM radio in the Freightliner Cascadia.  

The cost of change

Leadership change can be expensive, both to remove a current CEO and to hire a new one. Here are three recent example as startups and early stage growth companies onboard operating experience in place of visionary or slow-moving leaders:

Lordstown Motors Corp.

The ouster of Steve...

https://www.freightwaves.com/news/truck-talk-cost-of-change-edition

Nikola execs play the long game and take $1-a-year post-SPAC salaries

Nikola Corp. (NASDAQ: NKLA) CEO Mark Russell and other top executives of the startup electric truck company are playing the long game, accepting $1 a year in salaries and stock-based compensation that could bring huge payouts if the scandal-battered shares regain value.

The company’s proxy statement issued Wednesday shows that all executive compensation is at risk for three years. But if the stock returns to $55 a share by then, CEO Mark Russell could realize a $2.2 billion payout. Other named...

https://www.freightwaves.com/news/nikola-execs-play-the-long-game-and-take-1-a-year-post-spac-salaries

Milton remains a billionaire but surrenders a lot in Nikola exit

Nikola Corp. (NASDAQ: NKLA) founder Trevor Milton is still a billionaire. But he is giving up a lot in his exit as executive chairman. That includes hundreds of thousands of future stock grants and a two-year, $10 million annual consulting gig that paid more than when he was CEO.

Monday’s announcement by Nikola followed FreightWaves’ report of Milton’s departure. The press release described it as a selfless act for the good of the company. The release did not mention a scathing report by short...

https://www.freightwaves.com/news/milton-remains-a-billionaire-but-surrenders-a-lot-in-nikola-exit