Who says open source doesn’t pay well…
I really enjoy reading footnoted.org by Michelle Leder - she posts a lot about the things public companies are hiding in their financial filings - and given the world we live in this tends to be about executive compensation and shady inside deals at some companies. And normally this is just stuff that’s happening elsewhere. But today she’s talking about Red Hat and that feels pretty close to home…
Turns out that executives at open source companies are not only well compensated, they also are able to make a penny or two on options… for example, the top four execs at Red Hat made a bit more than $76 million this past quarter on options (scroll to page 17 in this SEC filing).
Not bad for a company that productizes free software - funnily enough, net income in the past twelfe months at Red Hat was about the same - $79 million (according to Yahoo! Finance).
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