John Chen's Contract
In March 2018, John Chen signed a contract extension that keeps him as CEO until 2023. … But there was a sweetener in the contract. According to a unique clause in the contract, if BlackBerry stock closes above $30 on ten days during the contract's five years, John Chen gets a $90 million cash bonus.
BlackBerry sued Facebook in 2018, claiming the social media giant was using BlackBerry inventions in its popular messaging applications. Facebook ended up settling with Blackberry for an undisclosed amount but is speculated to be between 1-5 BILLION.
BlackBerry, once known for a popular array of mobile devices, has been looking to boost revenue through patent royalties but has found it difficult. BlackBerry currently hold 38,000 patents. Earlier this year they sold 90 patents to China’s Huawei Technologies Co. The Waterloo, Canada-based company has turned its focus to its software and security offerings. In December, it signed an agreement with Amazon.com Inc. to develop and market a software platform that aims to let automakers read vehicle sensor data, improving the performance of cloud-connected vehicles.
650 shares @ $14.38 since the robinhood buying shut down. These bags were getting heavy but I BBeilve in this company. This is not financial advice.
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