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Originally Posted by RockLicker
Curious how bonus season has been at operators this year? Lots of pretty eye popping financial numbers out there, how is that trickling down to the working slobs?
Heard about CNR, would be nice to hear about some big bonuses to balance that mess out.
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Most E&Ps will have some semblance of a stock option/unit plan for most of their Corporate employees. Take a look at the Company proxies/management information circulars on SEDAR/their websites which should be coming out in the next 2 weeks where it shows their executive compensation payouts. If you look at what those paid out as versus what they were granted 3 years ago you should get a decent idea of the payouts.
Ie. Usually it will say on the proxy what the executive target is - typically 100 - 200%. So if they are making $300K per year its roughly $300K worth of options. If they got paid out $900K if would be 3x their target which trends similar to the rest of the company.
If someone who is not an executive is making $200K and their PSU/Options issued at that time was a 50% target, then they would have $50K worth of options. Going above the logic of the 3x, then they would have had a $150K bonus on the options/PSUs.
Its not a definite science as that targets change by positions and the 3x in our example would be based on individual, company, and stock performance typically. But it would give a rough idea of how the general payouts were this year as most stocks are very much above their issuances in 2020 when it felt the oil and gas industry was ending.