Surojit Chatterjee, the previous chief product officer at Coinbase, will formally depart the corporate on February third after reportedly making an estimated $105 million in inventory gross sales.
In response to disclosures filed with the Securities and Trade Fee, Chatterjee will even retain 249,315 shares of Coinbase inventory. On the time of publication, Coinbase inventory was valued at $54.28 per share, by Google Finance.
Chatterjee joined Coinbase from Google in February 2020 with a wage of slightly below $1 million per 12 months. In recognition of Chatterjee’s contributions to the corporate, Coinbase and Chatterjee have entered right into a separation settlement that features severance advantages and an advisory deal through which he’ll present advisory providers from Feb 4, by means of to Dec 31, 2023.
Within the disclosures filed with the Securities and Trade Fee by Coinbase, Chatterjee will obtain “a lump sum fee in line with our present Change of Management and Severance Coverage, which supplies for funds and advantages to govt officers upon sure qualifying terminations.” As well as, Chatterjee will “proceed to obtain medical health insurance protection pursuant to COBRA for a interval of ten months following the month of the Separation Date.” The severance advantages are contingent upon “Mr. Chatterjee not revoking a separation and launch of claims in favor of the Firm.”
In a Linkedin publish saying his departure from Coinbase, Chatterjee said:
“I’m wanting ahead to persevering with to contribute in my position as an advisor to Brian and the exec staff and to persevering with the onerous however vital work of making extra financial freedom and constructing a greater web for everybody.”
Associated: Coinbase lower prices and bolstered rep, however earnings stay challenged: Analysts
Coinbase continues to face challenges amid present market circumstances. On Jan 18, Cointelegraph reported that Coinbase would terminate operations in Japan and conduct a whole assessment of its enterprise within the nation on account of market circumstances.
In consequence, all Coinbase Japan clients have till February sixteenth to withdraw their fiat and cryptocurrency holdings from the platform. After February seventeenth, any remaining crypto property held by Coinbase Japan clients can be transformed to Japanese yen.
