Sundar PichaiSundar Pichai earned $164M in 2023

Michael J. Loparco served as the CEO of Symbotic Inc. from April 2022 until November 2022. His time in this role was marked by a swift transition following the company’s major business combination, where he focused on expanding partnerships, particularly...

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Michael J. Loparco

Ex-CEO of Symbotic Inc.

Sector of Economy

Financial Services

CEO of Symbotic Inc. for

0 years 5 months (Jun 2022 - Nov 2022)

Previous Experience

Unknown

Holdings

See how much did Michael J. Loparco make over time.

During his time at Symbotic, Michael J. Loparco received a considerable stock grant of 578,453 performance-based restricted stock units (PSUs) in 2022. However, these PSUs and other stock awards were ultimately forfeited following his resignation. His compensation plan was heavily...

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Insider Trading

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Compensation History

See how much did Michael J. Loparco make over time.

In 2022, Michael J. Loparco's total compensation reached about $14.3 million, comprised mainly of his salary of $336,539 and a performance-related bonus of $250,000, which was linked to the successful execution of key business milestones such as partnership expansions and revenue growth. Despite the high overall compensation, it includes a notable $13.7 million in stock awards intended to drive performance but ultimately forfeited due to his resignation. His structured compensation plan aimed at attracting and retaining top talent aligned with Symbotic’s business objectives, focusing on incentive metrics like revenue and growth sustainably over time. The salary was also bundled with additional severance packages post-resignation, showing a concern for executive transition stability.

Year

2022

Total Compensation

$586.54K

Salary

$336.54K

Board Justification

The compensation program aims to attract, motivate, and retain outstanding individuals while rewarding performance aligned with the company's business strategies.

Bonus

$250.00K

Board Justification

The annual cash bonus opportunities for the Named Executive Officers were based on the successful completion of the Business Combination, significant expansion of the commercial relationship with Walmart, year-over-year revenue growth, achievement of deployment milestones, and expansion of the customer base.

Other

$0.00

Board Justification

No other compensation was reported for 2022.

Restricted Stock

$0.00(0 RSU)

Board Justification

No stock was vested in 2022 as the RSUs and PSUs granted were forfeited upon resignation.

Performance Metrics

The performance metrics for determining the compensation included successful completion of the Business Combination, revenue growth, and customer base expansion.

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