18:59:25 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



Shopify Inc
Symbol SHOP
Shares Issued 1,208,467,290
Close 2024-03-15 C$ 104.48
Market Cap C$ 126,260,662,459
Recent Sedar Documents

Globe says Shopify lavishes nearly $200M on CEO Lutke

2024-03-18 09:23 ET - In the News

The Globe and Mail reports in its Monday edition that Shopify has granted stock awards to founder and chief executive officer Tobi Lutke valued at close to $200-million, making it one of the largest compensation packages in Canadian history. The Globe's Irene Galea and David Milstead write that Shopify disclosed the recent stock awards in filings on SEDI showing that the Ottawa-based company granted Mr. Lutke 2.6 million options and close to 470,000 restricted shares on Feb. 22. Experts offered mixed reactions to the compensation, with some saying it serves as a useful incentive for Mr. Lutke to take steps to improve the company's share price, and others questioning the motivation for granting the executive such a large compensation package. Shopify shares have jumped sharply over the past year, but remain well below all-time highs set in late 2021. The company has recently posted solid growth and improved bottom-line results, but that followed a period of significant losses and some strategic reversals under Mr. Lutke's watch. Shopify did not respond to requests for comment, including questions about why the latest stock awards were issued, any conditions placed on the awards and estimates of their potential value.

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