NuBank billionaire CEO gives up his stock award compensation

4
Comment
Favorite

NuBank billionaire CEO gives up his stock award compensation

seekingalpha2022-12-01

Nu Holdings (NU) stock gained 4.3% in Wednesday trading after its billionaire founder and CEO, David Vélez Osorno decided to give up his stock compensation in the wake the stock's 59% decline in the ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment

Moonshot
·2022-12-01
This is encouraging. Velez's action will add value to the outstanding shares and I believe the market will reward this accordingly. [Victory]
Reply
1
Report

Most Discussed

7x24

All

Terms and Conditions·Privacy Policy

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email：uservice@ttm.financial

{"i18n":{"language":"en_US"},"data":{"share":"https://ttm.financial/m/news/2288561774?lang=en_US&edition=fundamental","thumbnail":"https://static.seekingalpha.com/cdn/s3/uploads/getty_images/874979248/image_874979248.jpg","is_english":true,"pubTime":"2022-12-01 06:07","share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","id":"2288561774","market":"us","top_or_hot":-1,"title":"NuBank billionaire CEO gives up his stock award compensation","media":"seekingalpha","content":"<div>\n<p>Nu Holdings (NU) stock gained 4.3% in Wednesday trading after its billionaire founder and CEO, David Vélez Osorno decided to give up his stock compensation in the wake the stock's 59% decline in the ...</p>\n\n<a href=\"https://seekingalpha.com/news/3912746-nubank-billionaire-ceo-gives-up-his-stock-award-compensation\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NuBank billionaire CEO gives up his stock award compensation</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNuBank billionaire CEO gives up his stock award compensation\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-01 06:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3912746-nubank-billionaire-ceo-gives-up-his-stock-award-compensation><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Nu Holdings (NU) stock gained 4.3% in Wednesday trading after its billionaire founder and CEO, David Vélez Osorno decided to give up his stock compensation in the wake the stock's 59% decline in the ...</p>\n\n<a href=\"https://seekingalpha.com/news/3912746-nubank-billionaire-ceo-gives-up-his-stock-award-compensation\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"NU","symbol_name":"Nu Holdings Ltd.","start_time":0,"source_url":"https://seekingalpha.com/news/3912746-nubank-billionaire-ceo-gives-up-his-stock-award-compensation","article_id":"2288561774","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/874979248/image_874979248.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2288561774","pubTimestamp":1669846071,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Nu Holdings (NU) stock gained 4.3% in Wednesday trading after its billionaire founder and CEO, David","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"NU":"Nu Holdings Ltd.","BK4207":"综合性银行"},"translate_title":"NuBank亿万富翁首席执行官放弃股票奖励薪酬","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NU":1},"content_text":"Nu Holdings (NU) stock gained 4.3% in Wednesday trading after its billionaire founder and CEO, David Vélez Osorno decided to give up his stock compensation in the wake the stock's 59% decline in the past year. In a recent filing, the digital bank, which operates under the name NuBank, said Vélez made the unilateral decision to terminate the 2021 contingent share award, the main compensation agreement between him and the company. Nu (NU) agreed to the request. Vélez said the move would make the company more efficient, as it would no longer need to recognize the share-based expenses related to the award and will result in total savings of $356M in the seven years following the termination date. It will also avoid potential dilution of existing shareholders in an amount equivalent to up to 2% of the total number of ordinary shares. In addition, he said his more than 20% stake in the company already \"serves to align his interest with those of shareholders in the current environment.\" He also told the company's board that he'll decline any new compensation in 2022 or in 2023 in the form of performance-based, long-term equity incentive awards or otherwise. Nu (NU) went public in December 2021 through an IPO, that priced its shares at $9 each, the stock has dropped 51% since then. Earlier this month, Nu Holdings (NU) stock jumped 13% as Q3 revenue beat consensus and earnings improved","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[{"id":9965347605,"gmtCreate":1669902819807,"gmtModify":1676538266720,"author":{"id":"4087182159149440","authorId":"4087182159149440","name":"Moonshot","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":1},"htmlText":"This is encouraging. Velez's action will add value to the outstanding shares and I believe the market will reward this accordingly.&nbsp;[Victory]&nbsp;","listText":"This is encouraging. Velez's action will add value to the outstanding shares and I believe the market will reward this accordingly.&nbsp;[Victory]&nbsp;","text":"This is encouraging. Velez's action will add value to the outstanding shares and I believe the market will reward this accordingly. [Victory]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9965347605","repostId":2288561774,"repostType":2,"repost":{"id":"2288561774","pubTimestamp":1669846071,"share":"https://www.laohu8.com/m/news/2288561774?lang=&edition=full","pubTime":"2022-12-01 06:07","market":"us","language":"en","title":"NuBank billionaire CEO gives up his stock award compensation","url":"https://stock-news.laohu8.com/highlight/detail?id=2288561774","media":"seekingalpha","summary":"Nu Holdings (NU) stock gained 4.3% in Wednesday trading after its billionaire founder and CEO, David","content":"<html><body> <p>Nu Holdings (NU) stock <span>gained 4.3%</span> in Wednesday trading after its billionaire founder and CEO, David Vélez Osorno decided to give up his stock compensation in the wake the stock's 59% decline in the past year.</p> <p>In a recent filing, the digital<span> bank, which operates under the name NuBank, said Vélez made the unilateral decision to terminate the 2021 contingent share award, the main compensation agreement between him and the company. Nu (</span>NU<span>) agreed to the request.</span></p> <p>Vélez said the move would make the company more efficient, as it would no longer need to recognize the share-based expenses related to the award and will result in total savings of $356M in the seven years following the termination date. It will also avoid potential dilution of existing shareholders in an amount equivalent to up to 2% of the total number of ordinary shares.</p> <p>In addition, he said his more than 20% stake in the company already \"serves to align his interest with those of shareholders in the current environment.\"</p> <p>He also told the company's board that he'll decline any new compensation in 2022 or in 2023 in the form of performance-based, long-term equity incentive awards or otherwise.</p> <p>Nu (NU) went public in December 2021 through an IPO, that priced its shares at $9 each, the stock has dropped 51% since then.</p> <p>Earlier this month, Nu Holdings (NU) stock jumped 13% as Q3 revenue beat consensus and earnings improved</p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NuBank billionaire CEO gives up his stock award compensation</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNuBank billionaire CEO gives up his stock award compensation\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-01 06:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3912746-nubank-billionaire-ceo-gives-up-his-stock-award-compensation><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Nu Holdings (NU) stock gained 4.3% in Wednesday trading after its billionaire founder and CEO, David Vélez Osorno decided to give up his stock compensation in the wake the stock's 59% decline in the ...</p>\n\n<a href=\"https://seekingalpha.com/news/3912746-nubank-billionaire-ceo-gives-up-his-stock-award-compensation\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.seekingalpha.com/cdn/s3/uploads/getty_images/874979248/image_874979248.jpg","relate_stocks":{"NU":"Nu Holdings Ltd.","BK4207":"综合性银行"},"source_url":"https://seekingalpha.com/news/3912746-nubank-billionaire-ceo-gives-up-his-stock-award-compensation","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2288561774","content_text":"Nu Holdings (NU) stock gained 4.3% in Wednesday trading after its billionaire founder and CEO, David Vélez Osorno decided to give up his stock compensation in the wake the stock's 59% decline in the past year. In a recent filing, the digital bank, which operates under the name NuBank, said Vélez made the unilateral decision to terminate the 2021 contingent share award, the main compensation agreement between him and the company. Nu (NU) agreed to the request. Vélez said the move would make the company more efficient, as it would no longer need to recognize the share-based expenses related to the award and will result in total savings of $356M in the seven years following the termination date. It will also avoid potential dilution of existing shareholders in an amount equivalent to up to 2% of the total number of ordinary shares. In addition, he said his more than 20% stake in the company already \"serves to align his interest with those of shareholders in the current environment.\" He also told the company's board that he'll decline any new compensation in 2022 or in 2023 in the form of performance-based, long-term equity incentive awards or otherwise. Nu (NU) went public in December 2021 through an IPO, that priced its shares at $9 each, the stock has dropped 51% since then. Earlier this month, Nu Holdings (NU) stock jumped 13% as Q3 revenue beat consensus and earnings improved","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":4,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}