Surojit Chatterjee to retain 249,315 shares of Coinbase stock after departing company

Surojit Chatterjee, the erstwhile main merchandise serviceman astatine Coinbase, volition officially permission the institution connected February 3rd aft reportedly making an estimated $105 cardinal successful banal sales. 

According to disclosures filed with the Securities and Exchange Commission, Chatterjee volition besides clasp 249,315 shares of Coinbase stock. At the clip of publication, Coinbase banal was valued astatine $54.28 per share, by Google Finance. 

Chatterjee joined Coinbase from Google successful February 2020 with a wage of conscionable nether $1 cardinal per year. In designation of Chatterjee's contributions to the company, Coinbase and Chatterjee person entered into a separation statement that includes severance benefits and an advisory woody successful which helium volition supply advisory services from Feb 4, done to Dec 31, 2023.

In the disclosures filed with the Securities and Exchange Commission by Coinbase, Chatterjee volition person “a lump sum outgo accordant with our existing Change of Control and Severance Policy, which provides for payments and benefits to enforcement officers upon definite qualifying terminations.” In addition, Chatterjee volition “continue to person wellness security sum pursuant to COBRA for a play of 10 months pursuing the period of the Separation Date.” The severance benefits are contingent upon “Mr. Chatterjee not revoking a separation and merchandise of claims successful favour of the Company.”

In a Linkedin post announcing his departure from Coinbase, Chatterjee stated:

“I’m looking guardant to continuing to lend successful my relation arsenic an advisor to Brian and the exec squad and to continuing the hard but captious enactment of creating much economical state and gathering a amended net for everyone.”

Related: Coinbase chopped costs and bolstered rep, but profits stay challenged: Analysts

Coinbase continues to look challenges amid existent marketplace conditions. On Jan 18, Cointelegraph reported that Coinbase would terminate operations successful Japan and behaviour a implicit reappraisal of its concern successful the state owed to marketplace conditions. 

As a result, each Coinbase Japan customers person until February 16th to retreat their fiat and cryptocurrency holdings from the platform. After February 17th, immoderate remaining crypto assets held by Coinbase Japan customers volition beryllium converted to Japanese yen.