• 03 Jan 2014 at 9:37 AM

Bonus Watch ’14: Phil Falcone

Industry ban, shmidunstry ban! Big Phil’s gonna get paid.

Harbinger Group Inc Chairman and Chief Executive Philip Falcone’s bonus for the current fiscal year could reach $20 million, according to a filing with the Securities and Exchange Commission. Mr. Falcone will receive an annual salary of $500,000 and is eligible for an annual individual bonus of as much as $750,000, according to the filing. The potential $20 million in bonuses would be based on the company’s corporate results for the fiscal year ending Sept. 30, 2014. Mr. Falcone didn’t receive any compensation from Harbinger Group beyond minor perquisites in the previous fiscal year, according to the filing. The firm’s compensation committee “is also negotiating the terms and conditions of an employment agreement with Mr. Falcone and anticipates granting Mr. Falcone an initial equity award,” the filing said.

Bonus for Harbinger’s Falcone Could Hit $20 Million [WSJ]

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Comments (10)

  1. Posted by Guest | January 3, 2014 at 9:41 AM

    i love this guy

  2. Posted by Guest | January 3, 2014 at 10:31 AM

    pays for the hockey tickets

  3. Posted by segoviacobain | January 3, 2014 at 10:39 AM

    To paraphrase: He cut himself a check. I'm starting to warm up to this guy – and hey, that wife's no Tilton!

  4. Posted by guest | January 3, 2014 at 11:50 AM

    i see nothing wrong with this.

    - A Rod

  5. Posted by quant me maybe... | January 3, 2014 at 12:37 PM

    There's an awesome meme waiting to light up the internet and immortalize that picture. Something along the lines of 'See that Phil?' across the top then
    '[ fill in awesome zinger here]' across the bottom.

    -> Guy who has accepted the fact that he has no meme related skills, but knows many who comment here do.

  6. Posted by St. Copious | January 3, 2014 at 12:45 PM

    I'd love to know what the "minor perquisites" were.

  7. Posted by quant me maybe... | January 3, 2014 at 1:35 PM

    Profitability is not a prerequisite, nor is compliance. I suspect that his wife runs the compensation committee so it is going to have to do with clothes, botox and that 'lesbian experience' she wanted before her 50th birthday.

  8. Posted by Bucker | January 3, 2014 at 2:01 PM

    So he couldn't make it as a chef, he couldn't pass a test for the Water Authority so let's place him in a position that can't get much worse – . the School Board !! NEPOTISM at it's best, right here in Buffalo.

  9. Posted by UBS Dad Jeans Quant | January 3, 2014 at 2:58 PM

    Can we get a deeper V

  10. Posted by Quant me maybe... | January 4, 2014 at 5:24 PM

    +1 for that name. Coffee came out of my nose.