Palm execs are being offered bonuses & stock options to stick around

Palm execs are being offered bonuses & stock options to stick around
Doubt can always lead some people to take drastic measures to ensure their survival amid an imminent journey that has some uncertainties surrounding it. Palm's battle to stay afloat may seem insurmountable at this point, but the long time smartphone manufacturer is doing what they can to keep their core intact. There was a new SEC filing this week that offered some insights to the shakeups happening over in Palm land as they continue to find a suitor in possibly buying them up. At the same time, Palm is attempting to entice some of their executives to stay along with the company by offering them some direct cash incentives and stock options. Their Global Operations Senior VP Jeff Devine and CFO Doug Jeffries were paid along the lines of $250,000 in bonuses and stock options to commit in staying for another two years as part of their “retention program.” This move was followed after their Software and Services Senior VP was heard to be leaving the company on April 23. CEO Jon Rubinstein has already committed to staying on board while other executives are hoping to do the same to keep their core intact – even if a buyout does go through. It's not too surprising to see Palm rushing to some brash moves like these, but they'll need to do all they can if they choose on moving forward with minimal loses.

via Electronista

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6 Comments

1. jrcrow79

Posts: 477; Member since: May 02, 2008

lol..sounds like a sprint strategy!!..if HTC buys em they will need their brains to work their phones!..ahahah

2. iHateCrapple

Posts: 734; Member since: Feb 12, 2010

Paid to stay aboard a sinking ship, nice, lmao.

3. AZNphoneGeek

Posts: 200; Member since: May 15, 2009

this is a sad story for a smartphone giant whose products have influenced the entire pda industry. i would like to see palm keep afloat and have their products succeed. it seems however that despite their development of a groundbreaking OS and a very sleekly packaged product, poor marketing decisions and a late submission in the new-gen pda class has taken its toll on the company. palm you idiots.... you should have marketed this differently. people buy cool, NOT functional. this whole palm saga saddens me.

4. wade1968

Posts: 224; Member since: Apr 12, 2010

would someone explain this to me please? why give bonus and stocks to the people who threw lack of imagination,who are clearly not doing there job to turn palm around, and are the ones resposible for sub standard qualtiy control being tossed big money when its clear new managment is needed to fix palm? if i were offered a job at palm with big yearly salary plus bonuses id come up with all kids of cool stuff lol

5. iHateCrapple

Posts: 734; Member since: Feb 12, 2010

Agreed...F*ck the executives, they should be trying to entice their engineers to stay with the company.

6. mcmkone

Posts: 54; Member since: Mar 24, 2009

Very true, they need to revise their statergy

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