POCKET CHANGE

Moderna CEO to Get Almost $1 Billion if Company Is Bought Out

The number is a far cry from Stephane Bancel’s original “golden parachute” of $9.4 million.

If Moderna gets bought out and its CEO leaves, he’s in for a large payday. CNBC reports that CEO Stephane Bancel’s ‘golden parachute’—an exit package for a CEO should they get fired or dismissed if the company is bought out—skyrocketed to more than $926 million at the end of last year. The numbers were released earlier this week as part of the company’s annual proxy report. The bulk of the funds, about $922 million, comes from the company’s stock, which soared over the last two years as Moderna worked to develop a COVID-19 vaccine. The rest is split between a cash severance of $1.5 million and a bonus of $2.5 million. The amount is also a far cry from Bancel’s golden package before the pandemic; it previously hovered around $9.4 million in 2019.