Snowflake has unveiled a compensation package worth up to $448 million for its CEO, Sridhar Ramaswamy. The package is tied to the company’s market value almost doubling to $184 billion in seven years.
Compensation Details
Ramaswamy’s award, totaling 1 million shares, is structured into five tranches, each with escalating stock price milestones. The company’s stock price would need to climb to $531 by July 15, 2033, for the final tranche, adding up to $100 billion to its market capitalization.
Snowflake has been benefiting from clients shifting their workloads to its cloud platform as they invest to develop AI tools. The company offers a platform where clients store and integrate their data in one place to generate business insights, build AI tools, and solve operational problems.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.