The management team awarded themselves a ton of shares when the market tanked and the stock price dropped to $19. Now that the market has rebounded, they all made millions just because of the stock market fluctuations, nothing to do with real performance. Anyone knows if this is legal? Doesn't feel ethical but don't expect much from this team on the ethics front.
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Why do you think that the Board approved a $1 Billion share buy-back plan last summer? Performance was not going to raise the company's stock to $40 - Icahn's stated goal. So, instead of using all of the cost reductions and Trump tax breaks to invest in the company in R&D, new talent, new tech, etc., it was used to artificially inflate Xerox's share price.
Yep, and they think they are good people too. Not.
It is totally legal.
It’s good to be king!
Happens in every big company.
i took ethics training a month ago. They should use the various things that are happening as scenarios during the training.