No no no no no. There is no excuse for a retention bonus like this one when it is easy to create the same present value with pay that is better tied to specific performance goals.
Nike Inc. gave Chief Executive Officer Mark Parker a stock award valued at almost 10 times his typical annual share grant, on the condition that he work for the sporting-goods company for the next five years.
Nike granted Parker, 59, restricted stock with a target value of $30 million, which he’ll receive if he’s employed through the award’s vesting period, according to the Beaverton, Oregon-based company’s July 20 proxy filing. He was previously given stock awards with reported values of $3.5 million each of the past three fiscal years, the filing shows.