On February 6, 2024, a significant event occurred in the life of Tony West, the chief legal officer of Uber Technologies. It marked the day when Uber reached a stock market valuation of $120 billion for a consecutive period of 90 days. This enabled a valuable trove of stock options to be unlocked for West, as part of the company’s grant in March 2018, around 14 months prior to Uber’s initial public offering in May 2019.
Had the company not hit this specific valuation milestone by March 2028, West stood to forfeit the equity grant, which was part of his welcome package when he transitioned from his general counsel role at PepsiCo to join the ride-hailing giant. Read the full report here.