Surojit Chatterjee to Hold 249,315 Coinbase Shares After Leaving Company

Surojit Chatterjee, the previous head of product at Coinbase, will formally go away the corporate on February 3 after reportedly making some $105 million in share gross sales.

In keeping with data filed with the Securities and Alternate Fee, Chatterjee may even maintain some 249,315 Coinbase shares. At press time, Coinbase shares have been valued at $54.28 per share, in line with Google Finance.

Chatterjee joined Coinbase from Google in February 2020 with a wage of slightly below $1 million per yr. In recognition of Chatterjee’s contributions to the corporate, Coinbase and Chatterjee have reached a separation settlement that features indemnities and an settlement to supply advisory providers from February 4 to December 31, 2023.

In Coinbase’s submitting with the Securities and Alternate Fee, Chatterjee will obtain “considerably giant pay in accordance with our Change of Management and Severance Coverage, which supplies for funds and advantages to officers within the occasion of fine trigger termination.” . As well as, Chatterjee “will proceed to obtain COBRA medical health insurance protection for a interval of ten months from the month of departure.” Termination advantages are contingent on “Mr. Chatterjee not revoking a separation and launch of claims in favor of the Firm.”

In a Linkedin submit asserting his departure from Coinbase, Chatterjee said:

“I sit up for persevering with to contribute in my advisory position to Brian and the chief crew and persevering with the laborious however essential work of making extra financial freedom and constructing a greater Web for all.”

Coinbase continues to face challenges within the present market circumstances. On Jan. 18, BoxNews reported that Coinbase would finish its operations in Japan. and would perform a whole evaluate of its enterprise within the nation as a result of market circumstances.

Consequently, all Coinbase Japan purchasers have till February 16 to withdraw their fiat and cryptocurrency holdings from the platform. After February 17, any remaining crypto property held by Coinbase Japan prospects will likely be transformed to Japanese Yen.

Clarification: The knowledge and/or opinions expressed on this article don’t essentially signify the views or editorial line of BoxNews. The knowledge offered right here shouldn’t be taken as monetary recommendation or funding suggestion. All funding and industrial motion contain dangers and it’s the accountability of every particular person to do their due analysis earlier than investing determination.

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