Private Equity giant TPG has give its non-founder CEO Jon Winkelried a stock grant award which comprises of nearly 6.5 million shares of TPG’s Class A common stock over the next six years, according to a report by Forbes. The shares are estimated to be worth at least $454m.
The grant is subject to conditions, which include Winkelried boosting the company’s stock price significantly. The report cities a company filing as saying, “The award is intended to incentivize Mr. Winkelried to drive shareholder value in a manner that is aligned with stockholder interests, reward him for organic and inorganic Company growth, and bring his compensation in-line with peer competitors in order to promote and ensure retention.”
TPG’s market cap today is about $13.4bn, up from $10bn when it went public in January 2022.
Winkelried’s first batch of 2.6 million restricted stock units will vest in four increments. He’ll get 25% in January 2025, followed by another 25% each year through 2028.
