News From Law.com
Feb. 6 2024 was an important day for Tony West, chief legal officer of Uber Technologies. On that date, the ride-sharing giant achieved a stock market valuation of $120 billion for 90 consecutive days, the trigger to unlock a huge trove of stock options granted to West in March 2018. The windfall would have seemed unfathomable not long ago, as the rideshare company has lost billions of dollars in previous years due to fallout from legal entanglements, safety issues and a problematic workplace culture that festered under co-founder and CEO Travis Kalanick. The Uber board hired West to help clean up the mess, plucking him from PepsiCo, where he’d been general counsel for three years. If Uber’s stock price continues to march higher before West's right to exercise his options expires in March 2028, his profits could increase exponentially.
Technology
February 29, 2024, 7:34 AM