$Opendoor Tech(OPEN.US)This stock is also going crazy among US retail investors. I found the 8K filing submitted by OPEN to the SEC. Let me briefly explain the new CEO's compensation structure, and you can decide whether to get on board.

1. Nejatian's base salary is $1, with no annual bonus.

2. He received a "mere" $15 million in cash + $15 million in stock as a one-time guarantee, which serves as compensation for leaving Shopify. He must work for 9 months to receive this amount.

3. The rest consists of two tiers of stock incentive plans.

a. First-tier reward (~40.88 million shares)

20% unlocked after 1 year of employment

The remaining 80% is unlocked quarterly over years 2–5

Stock price threshold:

Shares vest only if the stock price (60-day average) ≥ $6.24

Protection clause:

If the company is acquired at a price ≥ $25/share, accelerated vesting may be triggered

b. Second-tier reward (~40.88 million shares)

Divided into 7 tranches, each with a stock price threshold:

$9 → $13 → $17 → $21 → $25 → $29 → $33

The first tranche unlocks at the end of year 1

Tranches 2 and 3 unlock quarterly over years 2–3

Tranches 4 and 5 unlock in year 4

Tranches 6 and 7 unlock in year 5

Other clauses:

Death/disability: Unvested shares vest immediately

Special termination (without cause/forced resignation, etc.): An additional 60 trading-day window to determine if stock price thresholds are met

If the company is acquired at a price ≥ $25/share, accelerated vesting may also be triggered

In summary, apart from the "small amount" upon joining, the CEO relies entirely on the stock incentive plan to make money. The CEO will do everything possible to at least keep the stock price above $6.24.