BlockFi Investor Presentation Deck
Multi-pronged Strategy
1
First, several members of
BlockFi's management team had
paid out of pocket for, or
otherwise financed, shares or
options rendered worthless by
the FTX transaction. BlockFi
funded one-time payments to
effectively return the funds it
had received and make certain
employees whole.
W
2
Second, the board approved a
retention program offering key
employees the opportunity to
earn cash payments of up to 50%
of their base salary if: (a) they
stayed at BlockFi through
February 2023; and (b) BlockFi
met certain company-wide
goals.
The retention program, however,
was discontinued upon BlockFi's
chapter 11 filing, and no payments
were made (or will be made) to
insiders thereunder.
BlockFi
3
Third, BlockFi historically timed
compensation raises with
material capital markets activity
and fundraising.
The massive impact of the FTX
transaction on management
equity led BlockFi's board of
directors to, among other
things, increase base salaries
and make retention payments
to ensure business-critical
knowledge and capabilities
were maintained.
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