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<blockquote data-quote="TylerDurden" data-source="post: 242452" data-attributes="member: 11212"><p>The real corruption is the LTIP (Long-term Incentive Plan) for the Grade 20+ levels. 50 - 200% of annual salary over a vesting period.</p><p></p><p>The devolution of MIP has been happening for years, even before going public. From the dilution of the factor to the idiotic 5-year vesting nonsense of 1/2 of the award.</p><p></p><p>And to communicate the change in MIP to 1/2 Cash and 1/2 stock that vests evenly over 5 years, one of the "benefits" given in the offical presenttation was that the first year they did this, it would lower your taxable income--hence, lowering your overall tax burden. Brilliant! Then by that logic, I guess they should've just paid us all zero to REALLY minimize our taxable income.</p><p></p><p>The problem isn't that the program (in whatever format) is necessarlly "unfair", I think the problem is that senior management likes to treat its lower level management like idiots by doing something that is detrimental (lowering their overall compensation), and then looking them straight in the eye and saying what a great thing it is.</p><p></p><p>Then on top of all that, they give all of themselves the LTIP program and give themself a bottom end 50% target of annual pay bonus over the vesting period. Brilliant-- what a way to reduce cost.</p><p></p><p>Enough ranting for one day....</p></blockquote><p></p>
[QUOTE="TylerDurden, post: 242452, member: 11212"] The real corruption is the LTIP (Long-term Incentive Plan) for the Grade 20+ levels. 50 - 200% of annual salary over a vesting period. The devolution of MIP has been happening for years, even before going public. From the dilution of the factor to the idiotic 5-year vesting nonsense of 1/2 of the award. And to communicate the change in MIP to 1/2 Cash and 1/2 stock that vests evenly over 5 years, one of the "benefits" given in the offical presenttation was that the first year they did this, it would lower your taxable income--hence, lowering your overall tax burden. Brilliant! Then by that logic, I guess they should've just paid us all zero to REALLY minimize our taxable income. The problem isn't that the program (in whatever format) is necessarlly "unfair", I think the problem is that senior management likes to treat its lower level management like idiots by doing something that is detrimental (lowering their overall compensation), and then looking them straight in the eye and saying what a great thing it is. Then on top of all that, they give all of themselves the LTIP program and give themself a bottom end 50% target of annual pay bonus over the vesting period. Brilliant-- what a way to reduce cost. Enough ranting for one day.... [/QUOTE]
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