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Linn Energy awarded CEO Ellis $60M on day it exited bankruptcy, filing says

Apr. 19, 2018 5:58 PM ETRoan Resources, Inc. (ROAN) StockROANBy: Carl Surran, SA News Editor33 Comments
  • Linn Energy (LNGG) awarded CEO Mark Ellis a $60M compensation package - more than 3x the amount Exxon Mobil paid its CEO - on the same day it exited Chapter 11 bankruptcy protection in February 2017, an SEC filing says.
  • Ellis's pay included an equity grant worth $58M, split between restricted shares and Class B units, with both vesting in increments over four years but the units are deliverable only when Linn's equity value exceeds $2B, a condition that has been satisfied, according to the filing.
  • LNGG said today that Ellis will retire from the company following the completion of its split into two companies.

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