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Technology Stocks : BB: BlackBerry (fka RIMM: Research in Motion)

BB 3.770

-12.9%

Dec 19 9:30 AM EST

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From: kidl	1/28/2021 8:52:22 AM
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BlackBerry's Chen may soon earn $200M (U.S.) Thursday January 28 2021 - In the News The Globe and Mail reports in its Thursday edition that BlackBerry chief executive officer John Chen could collect more than $200-million in compensation if recent huge gains in its share price hold up (all figures U.S.). The Globe's David Milstead writes that BlackBerry shares have quadrupled, including a gain of 80 per cent since Friday. Retail investors in the United States and Canada, many participating in a Reddit forum called WallStreetBets, have swept them up in a frenzy of social-media speculation. Mr. Chen is poised to be a huge beneficiary. When he renewed his contract in March, 2018, he received five million performance-based shares that he would only be able to sell if the stock hit certain thresholds. He earns each block of one million shares if BlackBerry's share price hits targets in one-dollar increments from $16 to $20. He also receives a cash award of $90-million if BlackBerry hits $30 for at least 10 days of trading. When BlackBerry awarded Mr. Chen the shares in 2018, they traded at $10.63, and the targets seemed aggressive, but achievable. It looked much, much harder in November of last year, when BlackBerry traded below $5. On Wednesday, it hit $28.77 intraday before closing at $25.10. © 2021 Canjex Publishing Ltd.

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