Shopify, the Ottawa-based e-commerce giant, has granted CEO Tobi Lütke a historic compensation package, totaling an estimated US $152 million. This package, issued on February 22, comprises 467,582 Class A shares and options for nearly 2.67 million more, with an exercise price of US$80.20 each.
Reported by The Globe and Mail, this award ranks among the highest in Canadian business history. While maintaining a symbolic $1 salary, Lütke’s remuneration mostly consists of substantial option grants. This grant doesn’t impact the company’s control, as Lütke holds a “founder share,” ensuring 40% voting rights. Shopify continues to witness robust growth, mirroring Lütke’s significant compensation.
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