Japan report says Nissan boss got millions in stock-based compensationBusiness | 21 Nov 2018 11:01 am
Tokyo prosecutors are trying to uncover the murky flow of funds to Nissan Motor's chairman. Carlos Ghosn was arrested this week on suspicion of underreporting his earnings.
The Japanese broadcaster NHK says it learned he received rights to tens-of-millions of dollars in stock-based compensation. But it never appeared in the company's securities reports.
Sources say when Nissan's share price performs well, executives can receive cash as part of their compensation.
The sources say Ghosn received rights to payments worth about 35 million dollars this way over a 4-year period.
Nissan started listing this type of compensation in its securities reports in 2011.
But the documents made no mention of the stock-linked rights given to Ghosn.
It is the latest in a series of allegations against the chairman.