BlackBerry Details Interim CEO’s Compensation Package and 2 Other Hot Stocks to Watch
BlackBerry Ltd. (NASDAQ: BBRY): Current price $6.45
The interim Chief Executive and Chair John Chen may have a daunting job ahead of him, but he will be sufficiently paid for his efforts, as BlackBerry has revealed in an SEC filing that he will receive an annual base salary of $1 million. Inside Chen’s package is also a performance bonus of $2 million, and he will be granted 13 million restricted shares, of which 25 percent will vest on both the third- and fourth-year anniversaries of his employment with the rest vesting in five years. Beyond all that, should he be terminated without cause, he will be paid his base salary for the remainder of the year in which a termination occurs.
Micron Technology Inc. (NASDAQ:MU): Current price $18.58
Moody’s Investors Service has said that Micron’s debt ratings, including the Ba3 Corporate Family Rating, are not impacted by the company’s plan to exchange, redeem, and terminate the conversion option of a large portion of their convertible notes, although the transactions constitute a negative credit development, because they will increase financial leverage.
Delta Air Lines Inc. (NYSE:DAL): Current price $27.82
Delta, through its SkyMiles program, is increasing the number of miles needed to obtain rewards for some flights from the continental United States to Hawaii, the Middle East, Asia, and Africa, effective after February 1. Chief Executive of Farecompare.com Rick Seaney observed that, “Domestic carriers have been tinkering with their loyalty programs at a much more rapid pace this past year or so, including adding spending requirements to achieve elite status as well as changing award redemption requirements.” He also said that this may be attributed to five years worth of capacity reductions, in which airlines eliminated their least popular flights to shrink the number of revenue-draining empty seats.