Compensation of (INSP) Executives in 2000
And where are they now???
I pasted the entire INSP S-1 SEC filing into an MS Word document, for future perusal and leisure reading. It came to something like 577 pages.
NOTE: Below I have summarized from the INSP S-1 (Pg. 57), filed with the SEC on 3/30/2000. I've included only the annual "Incomes" of the INSP Executive Officers for 2000, as well as only the "Options" for the "former" CEO Arun Sarin (all of which he apparently "relinquished" when he resigned from the company in January 2001). Heck, he must have either REALLY wanted to be gone from the company, or felt his options were now completely useless, to give up 14,000,000 options. Perhaps he felt "getting out" was his only REAL "option," to maintain his sanity and/or personal integrity.
Also, please see the numbered footnotes below. Also note, there is no mention of any compensation for Russell Horowitz, the "former" BOD Vice-Chair, President, and COO (for about 3 VERY short "post-merger" months anyway), or John Keister a "former" INSP VP, of Mark Peterson, or Steve Goldberg, or....many others.
Also note, of the EIGHT "most highly paid" pre-merger INSP executives listed in their S-1 filing...ALL OF THEM ARE GONE (6 total, 10 counting the four mention above) from the executive positions they held with InfoSpace in 2000 (and early 2001)...EXCEPT Naveen & Rasipuram (sorta sounds like a new-age rock band).
It must be awfully lonely at the top, when your company's stock hits a new "bottom" almost daily, and a very large number of your company's most highly respected "leaders" and highly regarded managers have left in the past year alone. And perhaps many investors and Wall Street analysts soon many be saying that your company has been one of the worst "managed" business plans (starting at the very top) of any company in the entire history of the planet....but not me. Oh no, I sure don't feel that way, because I've been told that the company's leader and founder is a great "visionary," who has said that his company will be the "World's First Trillion Dollar Company," and even bigger than MSFT, CSCO and INTEL all combined...and I've always believed every word he utters, cause it's said he worships Bill Gates, and he's so darn smart and he's so filthy rich...So in my book, he must be a "visionary"...even if the stock's value has been completely devastated by an incredible 99% drop in value in just over a one year. That's so big deal. It could happen to any "visionary"...although I don't think it ever happened to Bill Gates, cause he's generally found ways motivate and inspire his most brilliant and intelligent people, keeping them on the team...sometimes for decades.
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Summary from INSP S-1 SEC filing, about page 57
(and their "current" status in 2001):
"Most Highly Paid" INSP Executives in 2000
(listed in the S-1 SEC filing of 3/30/2001)
Naveen Jain.....$250,000(#1)
Chairman and Chief Executive
Arun Sarin(#2).....$141,667 / Options14,000,000(#10)
Former Chief Executive Officer
Rasipuram V. Arun.....$123,333
Executive Vice President and Chief Technology Officer
Joanne R. Harrell(#3).....$113,525
Former Senior Vice President,
Human Resources and Facilities
Michael D. Kantor(#4).....$351,006(#5)
Former Senior Vice-President, Advertising
Chris Nabinger(#7).....$133,333
Former Senior Vice President,
Worldwide Operations
Rand Rosenberg(#8).....$103,846
Former Chief Financial Officer
Steven Shivers(#9).....$147,102
Former Managing Director, Europe
(1) Mr. Jain also received a $500 award in connection with patent filings.
(2) Mr. Sarin resigned his position as the Chief Executive Officer in January 2001.
(3) Ms. Harrell left InfoSpace in March 2001.
(4) Mr. Kantor left InfoSpace in June 2000.
(5) Consists of $58,333 in base salary and sales commissions of $292,673 paid to Mr. Kantor for advertising revenue attributable to Mr. Kantor.
(6) Mr. Kanter's $541,126 1999 earnings for 1999, consists of $90,792 in base salary, and sales commissions of $450,334 paid to him for advertising revenue attributable to Mr. Kantor.
(7) Mr. Nabinger left InfoSpace in October 2000.
(8) Mr. Rosenberg left InfoSpace in January 2001.
(9) Mr. Shivers served as Managing Director, Europe until February 2001.
(10) These options were relinquished upon the executive's termination of employment with us. |
