• Surojit Chatterjee is the former chief product officer at Coinbase and will leave the company on Feb. 3.
• Chatterjee will retain 249,315 shares of Coinbase stock, which is worth $13.5 million at the time of publication.
• Coinbase and Chatterjee have entered into a separation agreement that includes severance benefits and a deal for him to provide advisory services from Feb. 4 through to Dec. 31.
Surojit Chatterjee, the former chief product officer at Coinbase, will be officially leaving the company on February 3rd after reportedly making an estimated 105 million dollars in stock sales. This comes after Chatterjee joined Coinbase from Google in February of 2020 with a salary of just under one million dollars per year.
In recognition of Chatterjee’s contributions to the company, Coinbase and Chatterjee have entered into a separation agreement that includes severance benefits as well as a deal for Chatterjee to provide advisory services from February 4th through to December 31st.
The severance benefits are contingent upon “Mr. Chatterjee not revoking a separation and release of claims in favor of the Company.” In addition to the severance benefits, Chatterjee will retain 249,315 shares of Coinbase stock, which is worth $13.5 million at the time of publication.
The SEC disclosures filed by Coinbase state that Chatterjee will receive “a lump sum payment consistent with our existing Change of Control and Severance Policy, which provides for payments and benefits to executive officers upon certain qualifying terminations.” In addition, Chatterjee will “continue to receive health insurance coverage pursuant to COBRA for a period of ten months following the month of the Separation Date.”
In a Linkedin post announcing his departure from Coinbase, Chatterjee stated that “I am proud of the work we accomplished over the past year and I am confident that Coinbase will continue to be a leader in the space. I am thankful for the opportunity to have had the chance to work with an incredible team, and I wish Coinbase the best.”
Overall, Surojit Chatterjee will be officially leaving Coinbase on February 3rd after making an estimated 105 million dollars in stock sales. He will be receiving a healthy severance package as well as 249,315 shares of Coinbase stock worth $13.5 million. He also entered into a separation agreement with Coinbase to provide advisory services from February 4th through to December 31st.