Jefferies approves $3.25m bonus for CEO Richard Handler
The Compensation Committee has also approved a $3.25 million bonus for Brian Friedman, President of Jefferies.
The Compensation Committee of the Board of Directors of Jefferies Financial Group Inc (NYSE:JEF), formerly known as Leucadia National Corporation, approved the fiscal year 2019-related discretionary bonuses for its top management. This becomes clear from a document filed with the Securities and Exchange Commission (SEC) on January 28, 2020.
The bonuses are in line with the executive compensation bonus plans previously approved by the Compensation Committee in February 2019.
In particular, the Compensation Committee has approved a $3.25 million bonus for CEO Richard Handler, with President Brian Friedman set to get the same bonus. The bonus for Michael Sharp, Executive Vice President and General Counsel, amounts to $3 million.
Let’s recall that, for the three months ended November 30, 2019, Jefferies reported net income attributable to Jefferies Financial Group common shareholders of $196 million, or $0.62 per diluted share, primarily reflecting the previously reported $205 million pre-tax gain from the sale of its remaining 31% interest in National Beef, partially offset by a non-cash fair value reduction of $69 million to its investment in The We Company.
The results also reflect strong performance in Equities and Fixed Income sales and trading, solid Investment Banking advisory revenues, continued modest results in Leveraged Finance new issuance and solid results at certain of its merchant banking investments.