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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: Glenn D. Rudolph who wrote (106414)	7/25/2000 2:39:30 PM
From: Eric Wells	Read Replies (2) \| Respond to of 164684

I believe Amazon int ehir typical fashion gave him a ton of already vested options to sign. Actually, Glenn, I believe that Galli may leave Amazon without any option windfall. However, he did make a lot of money during the 1 year that he worked at Amazon. Galli was hired by Amazon in June of 1999. According to the Seattle Times, he received a $7.9 million signing bonus, to be paid over 3 years: (From the Seattle Times) "Galli, who was also named chief operating officer when he joined Amazon.com in June, received a $7.9 million signing bonus. Of that, he received $2.9 million last year. The rest will be paid in June of this year and next." So, let's see - he received $2.9 million of the bonus last year - and I would guess another $2.5 million of the bonus in June of this year - that's $5.4 million in bonus money for 1 year of work - a year during which Amazon's stock price, what shall I say, collapsed? Additionally, Galli received a ton of options - but at a strike price of $57.95: (From the Seattle Times) Galli, 41, got options to purchase 3.92 million shares at $57.95 a share. The grant would have a value of $1.3 billion if the stock rises 10 percent a year through 2019, according to Amazon.com's proxy filing with the Securities and Exchange Commission." According to insider selling records (www.insidersell.com), Galli hasn't sold any stock. Oh, and Galli also received a $200,000 salary. $5.4 million bonus + $200k brings the total to $5.6 million for a year. That's almost as much as Jimmy Wright made in his one year stint. You have to wonder, did Amazon make a mistake and choose the wrong guy in selecting Galli for the job - surely they didn't expect him to leave after only a year? Or did Amazon choose the right guy for the job - but Galli, being the smart guy that he is, realized that there is absolutely no hope for Amazon? I think both views reflect negatively on Bezos. Here's the link to the Seattle Times article: seattletimes.nwsource.com -Eric