Thorsten Heins, Chief Executive Officer of BlackBerry, would make USD55.6 million if he sells the smartphone maker and is ousted. According to a proxy filing in May 2013, Heins would be entitled to receive the amount if BlackBerry underwent a change of management and he is pushed out by the new proprietors.
If Heins was dismissed without an alteration in control, he would receive USD22 million in equity awards, incentive payments and salary. The amount would be based on the share price of BlackBerry in May 28, 2014. Moreover, the payout would incorporate his base salary of USD3 million and around USD72,000 in benefits and savings for his retirement. He would also be eligible for a yearly incentive payment worth USD2.8 million, and could soar to USD4.5 million in a change-of-control state.
CEO Heins' equity awards could value at USD16.1 million if he was simply laid off, and USD48 million if the termination transpired at the hands of the new owners. BlackBerry's shareholders gave their approval of the plan during the company's annual summit held last July 9, 2013.
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