The amount of those is to be determined by a formula pegged to the average 30-day stock price divided into $1.5 million The shares vest equally over four years. Beginning in 2015, the CEO is also eligible for an annual LITP grant of $1.5 million, with at least 50 percent performance-based. I have to admit LITP is an acronym I have not read in pay agreements (since there are very small number of publicly held companies in this market) but probably involves long-term incentive payments?
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BLACKBAUD CEO SALARY $600K Featured
Blackbaud has agreed to give its new CEO Michael Giononi an annual base salary of $600,000. Gianoni, who was hired last month, also received an $870,000 bonus to help with relocation and other transition costs. The salary agreement was effective in early January. The Charleston, S.C.-based nonprofit software vendor also set an annual bonus goal targeted at 100 percent of base pay but which could range from zero to 200 percent of his annual salary. Gianoni also received a grant of Restricted Shares and Performance Share Units of Blackbaud common stock.
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