Ravichandran could get up to 3.7 million additional shares of EIGI stock.
Endurance International Group CEO Hari Ravichandran is taking a big cash pay cut in return for shares in the company if it hits free cash flow targets.
Ravichandran’s annual salary will be reduced from $750,000 to $200,000 and he won’t receive any cash bonuses for 2015, 2016 and 2017.
The upside: the potential to get another 3.7 million shares in the company over the next three years. Shares currently trade for $14 a share, so that’s potentially over $50 million if he helps the company knock it out of the park.
Ravichandran can earn shares each quarter based on hitting cash flow goals, and the incentive program includes some “make up” capability for big capital costs.
Endurance International Group noted that the compensation plan is “specifically designed to incentivize performance in excess of the target level by accelerating the number of Award Shares Mr. Ravichandran would receive for results above target. The Board and the Committee believe that achieving target level performance over the Performance Period would represent meaningful free cash flow per share growth from current levels and would create significant shareholder value, and that achieving the maximum level would represent exceptional performance.”
Details are in an 8-K filing.
Endurance International Group owns a number of domain name companies, including Domain.com and BuyDomains.
Casey Jongko says
Go Hari!!!
ClicknConnect Clubs (@JohnGaltClub) says
A Woman Entrepreneur BUILDS an AWESOME ClickyBuzz Website – But, Gets Destroyed by Hari Ravichandran’s Endurance International HOSTING and He has still NOT yet provided ANY RESTITUTION in OVER 6 months!!
His company has entirely DESTROYED this woman’s business!
HE IS A COMPLETE FRAUD!
Malcolm Eaton says
Hari’s company #enduranceintl is ripping off small business through the company buydomains.com absolute disgrace securing a domain I was waiting for quite some time and pays less then $20.00 and offers it back to me at $3880.00 are you for real hari that’s not supporting small business, #enduranceintl
#hariRavichandran
Andrew Allemann says
You’re not going to find much sympathy here.
Malcolm Eaton says
Why ? I’m not looking for sympathy in any case, but why? is this site all about companies cyber squatting and how great it is to rip other business off ?
Andrew Allemann says
They bought a domain you were also interested in and sold it to you? You could have purchased it first. What you’re describing is not cybersquatting.
Malcolm Eaton says
Hi Andrew
Thanks for your reply, mate I did not buy it from them :0)
I guess its not a simple as what you suggest, the fact is in Australia where I run our very small business with the trade Marked name I was looking to secure the .com for, I had been attempting to deal with the at the time domain rights holder whom had had the domain for a very long time, and was to be kind not really on the ball :0) seems to have let the domain expire just a couple of months ago, as I thought this was going to happen tried to take steps to be next in line to get the domain, no surprises though buydomains.com through what ever mechanisms seem to be able to gazump the small end users and then proceed to in my opinion re offer the domain at what I discribe as exorbitant mark ups, with the simple objective of financial gain.
I get it but its not as simple as me being able to get in first, I was there first been there for 6 months waiting, I don’t think thats was ever going to be possible with the tech they use to gather expired domains.
That being said I have had the offer to purchase at $2900.00 us for a domain they paid some $20.00 for, I have offered to pay $500.00 us and been knocked back, we have an absolute intention to host a site with this domain as we are not in the business of buying and selling domains for profit.
In any case we live and learn I guess.
Cheers
Malcolm