Coinbase's Chief Product Officer Will Leave With a $105 Million Payday

When Surojit Chatterjee logs out on his final day as chief product officer at Coinbase on February 3, he will have made a whopping $105 million from stock sales. From a report: According to disclosures filed with the Securities and Exchange Commission, the former chief product officer will also retain a further 249,315 shares of COIN stock, worth another $7.6 million. (Our estimates are based on the closing price of Coinbase stock, at $49.42 per share, on Friday, January 20, after the exercise price, which was $18.71.) Chatterjee joined San Francisco-based Coinbase from Google in February 2020 on a salary of just under $1 million per year, the filings show. All told, he has earned about $115 million since joining the company. DL News' estimate of Chatterjee's total compensation was checked with two sources who have expertise in executive compensation: Rosanna Landis Weaver, a senior manager at As You Sow, a shareholder advocacy group; and Paul Hodgson, a senior advisor and compensation expert with corporate data house Esgauge. Chatterjee's earnings are high, even as pay packages soar among high-ranking executives. For comparison, the CEO of Ford Motor earned less than a quarter of that in the same period, and Ford's revenues are five times the size of Coinbase's. A study conducted by Equilar and The New York Times found that eight CEOs were awarded more than $200 million in 2021, with two earning packages above $500 million.

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