Remember Options Backdating? Nissan Gets Caught Using a Very Old CEO Pay Trick

CEO Hiroto Saikawa received an extra $432,382 when the board changed the date of a stock-based bonus.


12 Jun, 2019FORTUNE.COM

Remember Options Backdating? Nissan Gets Caught Using a Very Old CEO Pay Trick | Beamstart

After more of than a year of one corporate scandal after another--faked emissions tests, claimed improper payments, executive financial misconduct, and even arrests--Nissan may face yet another problem.

CEO Hiroto Saikawa reportedly received a bump to a stock-based bonus when the company’s board rescheduled by a week the date it the shares were priced. The result was a $432,382 increase, according to Reuters. The charge, originally from Japanese magazine Bungei Shunju, came from the first interview given by Greg Kelly, a former Nissan director who was an aide to former CEO and chairman Carlos Ghosn, since Kelly was arrested in 2018 and then freed from jail in December....

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