Skift Take

The net proceeds of Brian Chesky's 10-year pay package — which he said would be donated to host programs and to charities — would really soar if Airbnb's share price breaches tough-to-reach targets.

Dennis Schaal

Airbnb turned heads in 2021 when it announced chairman and CEO Brian Chesky had been awarded a $120 million pay package the previous year that potentially included earning 12 million restricted stock units over the following decade.

The $120 million figure was for accounting purposes. However, the fair value of those stock units was estimated to be $430 million on the grant date of November 10, 2020, when then-privately held Airbnb's share price was $35.81.

But that was a month before the Airbnb IPO. By year's end 2020, the stock traded above $145.

It may turn out that the 10-year package for Chesky could soar to $1 billion or more if Airbnb's share price hits certain price targets during each of the 10 years, and he remains CEO.

$1.3 Billion Value for 2023-2030

In a proxy statement issued late last month that included its executive pay figures, Airbnb noted that the potential value of Chesky's eight remaining tranches of unearned shares at the end of 2023 was $1.3 billion. [S