• Coinbase CPO Surojit Chatterjee will have made about $105 million from stock sales by the time he leaves office on Feb. 3, 2023.
• Estimates made by compensation experts and checked by two executive compensation experts suggest that Chatterjee has made about $115 million since he joined the crypto exchange from Google in February 2020.
• According to his SEC filings, Chatterjee sold his options in 65 different transactions, mostly in 2021, which netted him about $102 million in cash gains.
Coinbase chief product officer Surojit Chatterjee is set to leave the company on Feb. 3, 2023, but not before he has cashed out a whopping $105 million in stock sales. Estimates made by compensation experts DL News, counterchecked by two executive compensation experts, suggest that Chatterjee has made about $115 million since he joined the crypto exchange from Google in February 2020.
When Coinbase went public, Chatterjee’s stake in the company was reportedly worth about $180.8 million. He was also expected to receive share options over the next five years that, based on Coinbase’s stock price at the time, would’ve been worth $465.5 million in total. Additionally, the crypto exchange had reportedly implemented a requirement for its executives to trade their stock options on a regular basis.
Chatterjee has been taking advantage of the high stock price of Coinbase, selling his options in 65 different transactions, mostly in 2021. This has resulted in him earning a staggering $102 million in cash gains. Despite the huge windfall, Coinbase has continued to lay off employees, with Chatterjee himself acknowledging the “painful” process.
All told, Surojit Chatterjee is set to leave Coinbase with $105 million in stock sales. It remains to be seen if he will jump back into the crypto space, or take some time off to enjoy the fruits of his labor.