You Won’t Believe How Much Yahoo CEO Marissa Mayer’s Golden Parachute Payment Is

According to SEC filings, Marissa Mayer, Yahoo’s CEO, may be recieving more than $23 million in a “golden parachute” payment as part of an exit from the company. This includes more than $3 million in cash and nearly $20 million in equity.

Mayer has said she plans to stay with the company after it is sold to Verizon. What her role at Verizon may be is unclear.

The remaining assets that Yahoo will have left will be renamed Altaba who’s holdings will include interest in Chinese e-commerce company Alibaba, its cash, convertible notes, certain minority investments, and a noncore portfolio of patents called Excalibur.

After the core business mergers with Verizon, board member Thomas McInerney, 52, will become CEO of Altaba and Alexi Wellman, 46, will be the chief financial officer.

According to the filings, McInerney will be based in New York City and receive a base salary of $2 million, with a potential annual incentive award of 100 percent of his base salary. Wellman will have a base salary of $500,000, with a potential annual incentive award of 75 percent of her base salary.

Verizon is planning to acquire Yahoo in July for $4.8 billion.

“Our pending Yahoo acquisition would further increase our opportunity to scale in the digital media space, with its 1 billion-plus monthly average unique viewers,” Verizon Executive Vice President and CFO Matt Ellis said during an earnings call in January.

Disclaimer: We have no position in (NASDAQ: YHOO) nor Verizon Communications Inc. (NYSE: VZ) and have not been compensated for this article.