Deals
Broadcom Placed $103 Million Bet on CEO Before Qualcomm Bid
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Broadcom Ltd. Chief Executive Officer Hock Tan received $103.2 million in reported compensation last year, his biggest-ever pay package, as the computer-chip maker prepares to make the largest acquisition in the history of technology.
Tan’s stock grant, valued at $98.3 million, will vest in 2020 and 2021 at its target value if the San Jose, California-based company’s shares outperform at least half of the companies in the S&P 500 during the performance periods, according to a regulatory filing on Tuesday. If the firm’s stock return exceeds 90 percent of members of the index ending in 2021, and the return is positive, Tan can receive a maximum of 4.5 times as many shares.