Moderna approves golden parachute for CEO worth more than $926 MILLION in the event he’s replaced

The amount of money that Moderna’s CEO would get if the company is sold and he’s replaced is now a jaw-dropping $926 million, a 9,751 percent rise from his proposed severance of $9.4 million in 2019. 

Stephane Bancel’s ‘change-in-control’ package was approved at the end of last year by the Massachusetts-based company’s board of directors, CNBC reports.

Most of the parachute – $922.5 million, to be exact – is in the form of stock, which has yo-yoed during the COVID-19 pandemic. The rest includes a cash payment of $1.5 million and a bonus of $2.5 million.

Bancel, who is already worth a reported $4.3 billion, would only get the money if the company is sold or merged and he loses his job in the process.

Last year, he earned a combined $18.2 million, a 41 percent increase from 2020.

The…