Hyatt's IPO

Fri, Oct 2 2009 07:10 | hyatt management | Permalink
Hyatt has filed its IPO, visible online here through the SEC. It will take awhile to go through the whole thing. As one initial note, here's what Hyatt CEO Mark Hoplamazian would get if fired. For him, financial security is promised in advance, signed into a legal document, and far more than he will ever need to survive. Compare this to the housekeepers who are fighting just to be reinstated at a living wage. Yesterday's rally downtown was a good start, and it was awesome to see the signs people had put up in windows opposite the Hyatt building. We need to keep the pressure on. Please add your name if you haven't already.

"and severance if his employment were terminated by us without cause or by him for good reason prior to a change in control, or by us for any reason within twelve months following a change in control or in contemplation of a change in control, equal to:

** One year base salary;

** Target annual incentive for year of termination multiplied by the percentage payout of his annual incentive in the prior year;

** Pro rata annual incentive for year of termination equal to his target for such year multiplied by the percentage payout of his annual incentive for the prior year; and

** Full vesting of his SARs and RSUs granted in 2006."


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