Moderna's billionaire CEO draws criticism for earning nearly $400 million in stock options last year, and then getting a raise on top of it
In a March blog post, Bancel confirmed his previous announcement of his intention of giving 100% of the after-tax proceeds from the. According to the filings, the billionaire owns stocks worth at least $2.8 billion with extra stock-based compensation valued at around $1.7 billion at the end of 2022.
"Bancel Philanthropies makes donations to people and programs with the potential to transform lives, advance social justice, and heal communities," the executive wrote in his blog post. However, his charitable efforts aren't enough to curb criticism over his compensation, particularly as the development of the Moderna vaccine was supported byAs Wednesday's annual meeting approaches, shareholders have reportedly been advised against voting in favor of Moderna's compensation plan, The Post reported.
In a statement to the Washington Post, Moderna stood by raises for top executives, stating the company feels it is"appropriate in light of the increased scope of increasingly global responsibility for Moderna's executives." amid an economic slowdown, including Apple's Tim Cook, Zoom's Eric Juan, and Intel's Pat Gelsinger, among others.
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