Feeds

EMC boss Tucci in lucky escape from poverty

$1m here, $1m there, soon you're talking real money

Reducing the cost and complexity of web vulnerability management

EMC boss Joe Tucci has managed to escape poverty by the skin of 8.2 million teeth; he has just cashed in his stock options for a cool $8.2m.

The Boston Business Journal notes that Tucci exercised stock option rights and bought 575,000 EMC shares for $12.85 to $13.18 and then, what a wheeze, sold them at once for $27.46 each, enabling him to buy the week's shopping, fuel his car, clean his suits, and pay for whatever else you need when you are a multi-millionaire.

Comment

It's always a mystery to me why the people who toil in the trenches don't get such gold-plated incentives while the people with the million dollar salaries get stock options to make them even richer. Wouldn't the benefit of incentivising 30,000 trench-working people strongly outweigh the benefit of incentivising 10 or 20 execs excessively?

Well, as the apologists for such emolument schemes might say, the drones in trenches wouldn't have jobs at all unless Joe did his great job, they'e relatively well-paid anyway, and Joe T deserves his reward because he's making EMC stockholders richer. The company has indeed just reported a knock-out quarter and full year.

Joe T still holds 1.8 million EMC shares, so he would be making himself richer even without the stock options. ®

Reducing the cost and complexity of web vulnerability management

More from The Register

next story
Wanna keep your data for 1,000 YEARS? No? Hard luck, HDS wants you to anyway
Combine Blu-ray and M-DISC and you get this monster
US boffins demo 'twisted radio' mux
OAM takes wireless signals to 32 Gbps
Apple flops out 2FA for iCloud in bid to stop future nude selfie leaks
Millions of 4chan users howl with laughter as Cupertino slams stable door
No biggie: EMC's XtremIO firmware upgrade 'will wipe data'
But it'll have no impact and will be seamless, we're told
Students playing with impressive racks? Yes, it's cluster comp time
The most comprehensive coverage the world has ever seen. Ever
Run little spreadsheet, run! IBM's Watson is coming to gobble you up
Big Blue's big super's big appetite for big data in big clouds for big analytics
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.