Siebel’s C3.ai Discloses Severance Package for Former Top Lawyer

C3.ai Inc., a software development company whose stock price had surged earlier this year, recently disclosed what its former general counsel Richard “Chip” Lutton Jr. received for just 11 months of work.

Lutton’s employment agreement called for 20% of his restricted stock unit awards to immediately vest upon his termination without cause within his first year working for the company, according to a proxy statement filed Aug. 24 by C3.ai. Of the $22.6 million that Lutton received after being hired in September 2021, approximately $22.1 million of that sum was comprised of stock, putting him in line to earn ...