OpenDoor returns its founders as well

Meanwhile, Netjatian You will have the founders of OpenDoor – Eric Wu and Khosla Ventures Keith Rabua– Wu held the position of CEO of OpenDoor from 2013 to 2022 and chaired the board slopeHe was appointed as president. The company announced that both belong to OpenDoor to restore “DNA Founder and Energy”. They will also inject capital; Khosla Ventures and Wu have invested $ 40 million of capital in OpenDoor through a special purchase. Meanwhile, two other outlets, Buyu Kevir and Jalin Suleiman, stepped down in mixing an important leadership.

In a press release, Opendooor said he “goes to the founder’s position” with the appointment of the Nagsiki and in attracting Rabois and Wu with seats on the blackboard and new financing.

“Literally, there was only one option for the job: Cas,” Rabua said in a statement. “I feel overwhelmed because he will work as an OpenDoor CEO.”

The payment package will witness that OpenDoor moves away from the traditional CEO compensation plans in favor of returning to the huge stock awards associated with the performance of the stock prices completely, according to its offer. Al -Najasi left his role as head of operations in Shopify To join OpenDoor, he will receive two “Make-Woele” prizes from his new superiors. The first is a cash prize of $ 15 million and the second is the $ 15 million inventory unit prize. Both jacket in nine months.

Al Naftiki, who previously participated in the establishment of the Kash Payment Technology Company, will receive a performance -based prize. Eric Hoffman, Vice President of the Premium Advisers, said that the first prize of 40.9 million shares was mainly designed for ensuring that the value of the shareholders is not eroded. The shares fall in installments over five years with the $ 6.24 stock price portal, which means that the stock must maintain the average closure price of $ 6.24 or higher over a period of 60 days until it is implemented. OpenDoor rose by more than 78 % on Thursday after the appointment of the Najdiki to $ 10.49, but in June, the shares were about 56 cents per share.

The second performance award, such as Moonshot, is designed with seven shares price obstacles ranging from $ 9 to $ 33. The slides fall only when the arrow reaches the landmarks of $ 9, $ 13, $ 17, $ 21, $ 25 and $ 33.

If Al -Dajati is able to reach all these prices, the prices will be rewarded with compensation worth $ 2.78 billion – and it will own 11.6 % of the company. luck.

“What I find is interesting is that they clearly believe that this man, who was the CEO of Shopify, will make or break this company,” Hoffman said. “They are ready to create a very big bet and put a lot of strength and money in his pocket to make it on the plane and motivate growth and push the company forward.”

Claire Kamas, a data analyst at FARIENT, said that the Naftika package is similar to other technology companies that have huge targets in the growth of stock prices. There were similar plans on the online delivery platform Doordash and Airbnb She added after that after they were subjected to public.

When Wu worked as an executive head, the company had A similar structureHoffman noted, although Wu prices were higher at $ 18.11, $ 23.54, $ 30.60, $ 39.78, $ 51.71, and $ 67.23. The first teacher was struck before the resignation in 2022. The OpenDoor panel was replaced Carrie WheelerWhich was the financial manager. Wheeler stepped down on August 15.

Wheeler Payment package It included a basic salary of $ 750,000, a cash bonus of $ 250,000, and has received $ 25 million registered shares.

On the contrary, the Nijatin will have a basic salary of $ 1 and a bonus.

Al -Najasi said: “It is an honor for me to become the leader of OpenDoor.” “Life events do not concern the same importance as buying or selling a house. With artificial intelligence, we have the tools needed to make this experience radically simpler, faster and more confident. This is the future that we build.”

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