Carlyle Group Inc. said it plans to give incoming Chief Executive Officer Harvey Schwartz a five-year stock incentive package valued at $180 million — if he can lift the firm’s sagging share price.
(Bloomberg) — Carlyle Group Inc. said it plans to give incoming Chief Executive Officer Harvey Schwartz a five-year stock incentive package valued at $180 million — if he can lift the firm’s sagging share price.
The package includes roughly $108 million in performance-based restricted stock units and $72 million in time-based restricted stock units, according to a regulatory filing Monday.
The larger portion is set to vest in five equal tranches, each tied to boosting the share price by amounts between 25% and 110%, with the last two payouts also linked to total shareholder returns, the filing shows.
The package underscores the pressure on the company and its new leader to persuade shareholders that it can grow and deliver stronger returns. Carlyle’s stock slumped 46% in 2022, underperforming its main rivals.
Read more: Carlyle picks Goldman veteran Harvey Schwartz as next CEO
Schwartz, whose appointment was announced earlier Monday, will also initially be paid a $1 million base salary and a bonus of as much as $6 million.
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