Les Moonves Forfeited $34.5 Million In Stock Awards In CBS Exit

Former CBS Chairman Les Moonves gave up a huge chunk of his company stock awards last year because of his ouster over sexual misconduct allegations.

CBS’ proxy filings submitted Friday to the Securities and Exchange Commission show that because of his separation agreement, Moonves forfeited more than $34 million of the roughly $42.5 million in stock awarded to him in 2018.

But he got to keep his 2018 salary and other benefits, which totaled $4.6 million according to the filing, as well as $8 million from an outstanding 2017 bonus.


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    After more than two decades at the helm of CBS, Moonves was pushed out in September following stories from a dozen-plus women who came forward accusing him of sexual assault or harassment. An internal investigation reportedly found “multiple acts of serious nonconsensual sexual misconduct,” which Moonves has denied.

    In December, the company said it would deny Moonves his $120 million severance package, claiming that he attempted to thwart its probe by deceiving investigators and destroying evidence.

    It was also determined that there were grounds for his firing, though it ended up being a forced resignation.

    CBS gave more than $20 million of the nixed payout to organizations working toward gender equality and combatting sexual harassment and assault.

    Original Article : HERE ; This post was curated & posted using : RealSpecific

     


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