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Prosper's new CFO didn't come cheap! There should be a story on this!
The terms of Mr. Ashraf’s offer letter, dated January 19, 2017 (the “Offer Letter”), provide for, among other things: (i) an annual base salary of $350,000; (ii) a one-time signing bonus of $20,000; and (iii) an option to purchase 3,397,242 shares of PMI common stock, which will vest over a four year period, with 25% vesting on the one-year anniversary of the commencement of employment and the remainder vesting monthly thereafter in equal increments, subject to the terms of the Offer Letter. Pursuant to the Offer Letter, Mr. Ashraf will also be eligible to receive an annual performance bonus in a target amount of 50% of his base salary, with his performance bonus for the fiscal year 2017 guaranteed in the amount of $175,000, provided that he remains employed by PMI on the payment date. Additionally, Mr. Ashraf will be eligible to participate in the benefit programs generally available to employees of PMI.
The terms of Mr. Ashraf’s offer letter, dated January 19, 2017 (the “Offer Letter”), provide for, among other things: (i) an annual base salary of $350,000; (ii) a one-time signing bonus of $20,000; and (iii) an option to purchase 3,397,242 shares of PMI common stock, which will vest over a four year period, with 25% vesting on the one-year anniversary of the commencement of employment and the remainder vesting monthly thereafter in equal increments, subject to the terms of the Offer Letter. Pursuant to the Offer Letter, Mr. Ashraf will also be eligible to receive an annual performance bonus in a target amount of 50% of his base salary, with his performance bonus for the fiscal year 2017 guaranteed in the amount of $175,000, provided that he remains employed by PMI on the payment date. Additionally, Mr. Ashraf will be eligible to participate in the benefit programs generally available to employees of PMI.
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