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[5] [6] The clawback clause is triggered at the very end of the fund, at a time where the General Partner may have already put the clawback amount to other use. In August 2010, Blackstone Group returned $3 million in carried interest to the limited partner of a fund as part of a clawback provision.
The term clawback or claw back refers to any money or benefits that have been given out, but are required to be returned (clawed back) due to special circumstances or events, such as the monies having been received as the result of a financial crime, or where there is a clawback provision in the executive compensation contract.
Wall Street "pay czar" Kenneth Feinberg will ask several financial firms to strengthen so-called clawback provisions, but will not force them to recover bonuses paid at the height of the financial ...
Structure of a private equity or hedge fund, which shows the carried interest and management fee received by the fund's investment managers. The general partner is the financial entity used to control and manage the fund, while the limited partners are the individual investors.
Restricted stock is an increasingly common element of the Short Term Incentive (STI). The STI is often dependent on performance against Key Performance Indicators, which are reported to the Board by management. There is increasing shareholder lobbying for "clawback" provisions to enable the company to recapture rewards that were improperly ...
Tesla's stock price reached $420 on Wednesday afternoon, which elicited responses from social media users and the company's CEO, Elon Musk. "As foretold in the prophecy," Musk wrote in an X post ...
Although private equity managers make up only a fraction of all executives, this costs the US Treasury an estimated $2.7 billion, according to Congress's Joint Committee on Taxation. [407] Set a maximum wage or maximum compensation for executives. This was enacted in early 2009—$500,000 per year being the maximum—for companies receiving ...
Concentrating on early-stage investments in various industries, the fund looks for companies at the Pre-seed, Seed, or Series A financing stages, offering up to $3 million in exchange for a ...
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