August

Introducing Our Newest Partner, RJ Bannister

Dear Friend,

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As we approach the end of Summer 2020, to say we live in uncertain times would be an understatement. Despite the upheaval, though, we at Farient Advisors are fortunate to be able to focus on enhancing our service to clients and growing our business.

To that end, I am pleased to announce the appointment of RJ Bannister as our newest partner and COO. RJ brings 30 years of compensation consulting experience. He has worked across a broad spectrum of companies across all industries on their Total Rewards strategies, executive compensation philosophies and on aligning their executive compensation programs, plans, policies and processes to their business strategies. RJ’s tremendous amount of experience across all types of companies will greatly benefit our company and our clients.

In addition to announcing RJ joining our team, I would also like to thank the National Association of Corporate Directors (NACD) for recognizing my colleague, Farient Partner Marc Hodak, and me for the Directorship 100, an annual recognition of the leading influencers in the boardroom. We are honored to be included.

Sincerely,
Robin Ferracone

Hot Off The Press From Farient

Kodak

Eastman Kodak Top Executive Got Trump Deal Windfall on an 'Understanding'

Eastman Kodak Executive Chairman Jim Continenza was awarded options for 1.75 million shares the day before a contract with the Trump Administration was announced, sending his worth soaring by tens of millions of dollars. In this Reuters article, I join other experts in analyzing the reasons behind the Kodak board’s decisions, which were related to a convertible bond offering earlier this year that would have diluted executives’ compensation.

us-president-barack-obama-signs-the-dodd

Farient Update: Ten Years of Dodd-Frank... What's Next

As we reflect on 10 years of Dodd-Frank, we ask ourselves “What worked?, ” “What didn’t?” and “What lies ahead?” In this Farient Update, we explore the successes of the legislation and how companies can start thinking about those areas beyond Dodd-Frank that have become significant issues over the past few years. The road to aligning management, board and stakeholder interests continues to show signs of progress.

Related Stories About Executive Compensation Amid Uncertainty

Novavax

Novavax Executives Could Get Big Payday Even if Vaccine Fails

One of the leading U.S. firms developing a coronavirus vaccine, Novavax, has awarded executives stock options that could pay out tens of millions of dollars even if its efforts fail. According to analysis by Farient, the company’s CEO holds options and other awards totaling roughly $64 million, with $25 million that can be cashed out while the vaccine is still in development.

Bankruptcy

US Companies Award Executives Big Bonuses Before Declaring Bankruptcy

Several high-profile companies that have collapsed in recent months have drawn attention to the practice of executives being given substantial bonuses just before the firms declare bankruptcy, as an ostensible reward for staying in their roles during reorganization processes. But creditors have begun to attack these companies for allegedly “rewarding failure,” according to this Financial Times article.

Upcoming Virtual Events

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ESG Trends, COVID-19 and Executive Compensation

Join Farient CEO Robin Ferracone and Partner R.J. Bannister for this NACD Carolinas Chapter virtual roundtable on September 18, 2020, from 3-4:30 pm EST, which will cover the future of ESG disclosure for corporations in the era of COVID-19, including how it relates to executive compensation issues. Registrants will receive a Zoom link and meeting materials a day before this event.

Meet Robin Ferracone

Robin is our Founder and Chief Executive Officer. She is the author of the book entitled, “Fair Pay Fair Play: Aligning Executive Performance and Pay” and is a frequent presenter for well-known organizations including Council of Institutional Investors, Society for Corporate Secretaries and Governance Professionals, the National Association of Corporate Directors (NACD), and The Conference Board, among others. Robin has written extensively on the topics of performance management, incentive plan design, goal setting, and corporate governance. She has been quoted by several business and industry publications including, The New York Times, The Wall Street Journal, and The Washington Post. Learn more about Robin.

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Farient Advisors LLC Is an independent executive compensation, performance and corporate governance consultancy. Farient provides a comprehensive array of services, including compensation program design, board of directors compensation and investor communications. Farient is located in Los Angeles, New York, Louisville and Dallas and covers clients in more than 30 countries through its partnership in the Global Governance and Executive Compensation Group (GECN). For additional information, please contact us at info@farient.com.

New York: 55 E. 59th Street Suite 12B New York NY 


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