Departing Coinbase CPO Surojit Chatterjee reportedly made $115m at firm
Coinbase’s chief product officer (CPO) Surojit Chatterjee, who is to depart on 3 February, will reportedly have taken home around $115 million while working for the company.
Upon his departure, Chatterjee will have reportedly made $115m
According to DL News, Chatterjee, who joined the crypto exchange platform in February 2020 on a five-year contract, will have amassed $105 million from stock sales, retained around $7.6 million of stock and earned a salary of just under $1 million.
According to Securities and Exchange Commission (SEC) disclosures, Chatterjee was granted options on his Coinbase stock, selling them off in 65 separate transactions across 2021.
The company reportedly required executives to trade their stock, generating sales of their options on a schedule outside of their control.
Nonetheless, with Coinbase stock at around $49 per share, based on 20 January closing price, his compensation package is now much less valuable than it was in 2021, DL News reports. According to the SEC filings, Chatterjee holds 249,315 shares in the company.
Chatterjee is leaving the firm due to family illness and bereavement. Announcing his departure on LinkedIn, he says: “It has been a tough year for me personally – my father was diagnosed with Alzheimer’s disease, and my mother passed away unexpectedly. If I’m honest with myself, I don’t think I’ve allowed myself time to grieve either yet.”
